M&G Plc Has $11.16 Million Position in General Motors (NYSE:GM)

M&G Plc lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,669 shares of the auto manufacturer’s stock after buying an additional 11,210 shares during the period. M&G Plc’s holdings in General Motors were worth $11,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GM. Cerity Partners LLC lifted its position in shares of General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of General Motors by 15.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 15,768 shares of the auto manufacturer’s stock worth $566,000 after purchasing an additional 2,081 shares during the period. Tennessee Valley Asset Management Partners bought a new position in shares of General Motors during the fourth quarter worth approximately $36,000. NewEdge Wealth LLC increased its stake in shares of General Motors by 5.3% during the fourth quarter. NewEdge Wealth LLC now owns 49,591 shares of the auto manufacturer’s stock worth $1,781,000 after purchasing an additional 2,506 shares during the period. Finally, Graypoint LLC increased its stake in shares of General Motors by 2.8% during the fourth quarter. Graypoint LLC now owns 16,397 shares of the auto manufacturer’s stock worth $589,000 after purchasing an additional 447 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Mizuho increased their target price on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. UBS Group raised their price objective on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company raised their price objective on General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $46.00 to $47.00 in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

General Motors Price Performance

NYSE:GM opened at $43.32 on Wednesday. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 5.30, a PEG ratio of 0.44 and a beta of 1.43. The business has a 50 day simple moving average of $46.09 and a 200-day simple moving average of $43.68.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period last year, the business posted $1.91 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that General Motors will post 9.94 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.11%. General Motors’s dividend payout ratio is currently 5.87%.

General Motors announced that its board has approved a share repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is owned by corporate insiders.

General Motors 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.