Corient Private Wealth LLC Grows Stock Position in General Motors (NYSE:GM)

Corient Private Wealth LLC raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 353,506 shares of the auto manufacturer’s stock after buying an additional 22,475 shares during the period. Corient Private Wealth LLC’s holdings in General Motors were worth $18,829,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GM. Amundi raised its stake in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after buying an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC raised its stake in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after buying an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of General Motors during the 4th quarter valued at about $108,366,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group set a $73.00 price target on General Motors in a research note on Saturday, March 1st. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price target for the company. Mizuho lifted their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus price target of $62.89.

General Motors Trading Down 0.8 %

Shares of General Motors stock opened at $48.62 on Wednesday. The stock has a market cap of $48.38 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.42. The stock’s 50 day simple moving average is $49.07 and its 200-day simple moving average is $50.47. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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

General Motors announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

About General Motors

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.