Prudential PLC Has $3.44 Million Position in General Motors (NYSE:GM)

Prudential PLC trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,568 shares of the auto manufacturer’s stock after selling 7,169 shares during the quarter. Prudential PLC’s holdings in General Motors were worth $3,440,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GM. Benjamin Edwards Inc. increased its holdings in shares of General Motors by 138.6% in the third quarter. Benjamin Edwards Inc. now owns 13,722 shares of the auto manufacturer’s stock valued at $615,000 after purchasing an additional 7,970 shares during the last quarter. IHT Wealth Management LLC grew its stake in General Motors by 79.2% in the 3rd quarter. IHT Wealth Management LLC now owns 15,136 shares of the auto manufacturer’s stock valued at $679,000 after buying an additional 6,689 shares during the last quarter. National Bank of Canada FI raised its holdings 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 during the period. Orion Portfolio Solutions LLC lifted its position in General Motors by 6.7% during the third quarter. Orion Portfolio Solutions LLC now owns 63,342 shares of the auto manufacturer’s stock worth $2,840,000 after acquiring an additional 3,964 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of General Motors by 3.0% during the third quarter. MML Investors Services LLC now owns 139,000 shares of the auto manufacturer’s stock worth $6,233,000 after acquiring an additional 4,023 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Mizuho increased their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. UBS Group restated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.11.

General Motors Stock Down 3.7 %

Shares of NYSE GM opened at $44.22 on Friday. The stock has a 50-day moving average price of $48.22 and a two-hundred day moving average price of $50.57. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market cap of $44.00 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 0.67 and a beta of 1.27.

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, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.09%. General Motors’s payout ratio is presently 7.80%.

General Motors announced that its board has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at General Motors

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

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.