Commerzbank Aktiengesellschaft FI Cuts Stock Position in General Motors (NYSE:GM)

Commerzbank Aktiengesellschaft FI cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,601 shares of the auto manufacturer’s stock after selling 561 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in General Motors were worth $408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Trust Point Inc. increased its position in shares of General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares in the last quarter. Avestar Capital LLC increased its position in shares of General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after purchasing an additional 213 shares in the last quarter. Continuum Advisory LLC increased its position in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares in the last quarter. Holistic Planning LLC increased its position in shares of General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after purchasing an additional 214 shares in the last quarter. Finally, Norden Group LLC increased its position in shares of General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock worth $421,000 after purchasing an additional 229 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Performance

Shares of General Motors stock opened at $48.48 on Thursday. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24. The business’s fifty day simple moving average is $49.98 and its 200-day simple moving average is $50.45. The firm has a market cap of $48.24 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is 7.80%.

General Motors announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

GM has been the subject of several research reports. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Mizuho boosted their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, General Motors presently has a consensus rating of “Hold” and an average target price of $59.71.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.