Andra AP fonden Has $9.19 Million Stake in General Motors (NYSE:GM)

Andra AP fonden lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 19.0% during the fourth quarter, HoldingsChannel reports. The firm owned 172,500 shares of the auto manufacturer’s stock after acquiring an additional 27,500 shares during the quarter. Andra AP fonden’s holdings in General Motors were worth $9,189,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. ACR Alpine Capital Research LLC raised its holdings in 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 worth $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. bought a new stake in shares of General Motors during the fourth quarter worth $108,366,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after acquiring an additional 1,906,964 shares during the period. Jennison Associates LLC lifted its position in 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 acquiring an additional 1,779,897 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after acquiring an additional 1,332,450 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Cowen started coverage on General Motors in a research note on Friday. They issued a “buy” rating and a $105.00 price target on the stock. Mizuho lifted their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $62.22.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is owned by company insiders.

General Motors Stock Performance

GM opened at $47.39 on Friday. 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 has a 12-month low of $38.94 and a 12-month high of $61.24. The business has a 50 day moving average of $49.70 and a 200-day moving average of $50.47. The stock has a market cap of $47.16 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced 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. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is 7.80%.

General Motors announced that its board has authorized a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.