General Motors (NYSE:GM) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 53.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,957 shares of the auto manufacturer’s stock after purchasing an additional 10,460 shares during the period. Verdence Capital Advisors LLC’s holdings in General Motors were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Proficio Capital Partners LLC raised its position in General Motors by 16.1% in the 4th quarter. Proficio Capital Partners LLC now owns 10,441 shares of the auto manufacturer’s stock valued at $556,000 after purchasing an additional 1,448 shares in the last quarter. M&T Bank Corp raised its position in General Motors by 3.1% in the 4th quarter. M&T Bank Corp now owns 65,073 shares of the auto manufacturer’s stock valued at $3,467,000 after purchasing an additional 1,932 shares in the last quarter. Atria Investments Inc raised its position in General Motors by 2.2% in the 4th quarter. Atria Investments Inc now owns 225,252 shares of the auto manufacturer’s stock valued at $11,999,000 after purchasing an additional 4,814 shares in the last quarter. Assetmark Inc. raised its position in General Motors by 40.0% in the 4th quarter. Assetmark Inc. now owns 83,875 shares of the auto manufacturer’s stock valued at $4,468,000 after purchasing an additional 23,948 shares in the last quarter. Finally, Snider Financial Group acquired a new stake in shares of General Motors during the 4th quarter worth about $205,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have recently weighed in on GM. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. UBS Group reissued a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Mizuho raised their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and raised their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, General Motors presently has an average rating of “Hold” and a consensus target price of $59.71.

General Motors Trading Up 7.2 %

Shares of GM stock opened at $48.48 on Thursday. The business’s 50 day moving average is $49.98 and its two-hundred day moving average is $50.45. General Motors has a twelve month low of $38.94 and a twelve month high of $61.24. The company has a market capitalization of $48.24 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. Equities analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors declared that its board has authorized a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

General Motors Announces Dividend

The company 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 dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.99%. General Motors’s dividend payout ratio is presently 7.80%.

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.