New York Life Investment Management LLC Has $8.08 Million Stock Holdings in General Motors (NYSE:GM)

New York Life Investment Management LLC decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.3% during the 4th quarter, Holdings Channel reports. The fund owned 151,689 shares of the auto manufacturer’s stock after selling 5,106 shares during the quarter. New York Life Investment Management LLC’s holdings in General Motors were worth $8,080,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lake Street Advisors Group LLC grew its stake in General Motors by 9.4% in the fourth quarter. Lake Street Advisors Group LLC now owns 6,966 shares of the auto manufacturer’s stock valued at $371,000 after acquiring an additional 601 shares during the period. Johnson Financial Group LLC bought a new position in shares of General Motors during the 4th quarter valued at about $455,000. MMCAP International Inc. SPC grew its position in shares of General Motors by 5.9% in the 4th quarter. MMCAP International Inc. SPC now owns 90,000 shares of the auto manufacturer’s stock valued at $4,794,000 after purchasing an additional 5,000 shares during the period. Longbow Finance SA acquired a new position in shares of General Motors in the 4th quarter valued at approximately $5,865,000. Finally, Todd Asset Management LLC increased its stake in General Motors by 14.0% during the 4th quarter. Todd Asset Management LLC now owns 514,080 shares of the auto manufacturer’s stock worth $27,385,000 after purchasing an additional 62,995 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GM shares. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, Mizuho increased their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus target price of $59.71.

General Motors Stock Performance

Shares of GM stock opened at $47.68 on Friday. The stock has a market cap of $47.44 billion, a P/E ratio of 7.75, a P/E/G ratio of 0.67 and a beta of 1.40. The company has a fifty day moving average price of $50.40 and a two-hundred day moving average price of $50.31. General Motors has a one year low of $38.94 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping 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%. As a group, equities analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

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.