General Motors (NYSE:GM) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,754 shares of the auto manufacturer’s stock after selling 6,404 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in General Motors were worth $5,847,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of General Motors by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after buying an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after acquiring an additional 989,750 shares in the last quarter. ACR Alpine Capital Research LLC grew its holdings in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of General Motors by 6.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after purchasing an additional 358,507 shares in the last quarter. Finally, Amundi lifted its holdings in shares of General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on GM shares. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, December 11th. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a research report on Saturday, March 1st. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Piper Sandler upped their target price on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, General Motors has an average rating of “Hold” and a consensus target price of $62.11.

General Motors Stock Performance

NYSE:GM opened at $47.24 on Friday. The firm’s fifty day simple moving average is $48.97 and its 200-day simple moving average is $50.53. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market cap of $47.00 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24.

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

General Motors declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.02%. General Motors’s dividend payout ratio is presently 7.80%.

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.