Groupama Asset Managment Purchases New Shares in General Motors (NYSE:GM)

Groupama Asset Managment acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, Holdings Channel reports. The fund acquired 312,315 shares of the auto manufacturer’s stock, valued at approximately $11,222,000.

Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado boosted its stake in General Motors by 1,213.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after acquiring an additional 2,035,925 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after buying an additional 74,194 shares during the last quarter. US Bancorp DE lifted its position in shares of General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after buying an additional 32,331 shares during the last quarter. Cerity Partners LLC lifted its position in shares of General Motors by 361.1% in the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after buying an additional 93,754 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of General Motors by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,327,552 shares of the auto manufacturer’s stock worth $370,966,000 after buying an additional 558,765 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

Shares of GM traded down $1.07 during mid-day trading on Thursday, hitting $47.79. The company’s stock had a trading volume of 6,049,141 shares, compared to its average volume of 16,047,958. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The firm has a 50-day moving average price of $44.72 and a 200 day moving average price of $40.15. The stock has a market capitalization of $54.53 billion, a price-to-earnings ratio of 5.85, a PEG ratio of 0.55 and a beta of 1.46. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the company posted $2.21 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts predict that General Motors will post 9.4 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors announced that its board has initiated a share buyback plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on GM. Mizuho lifted their price objective on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Sanford C. Bernstein began coverage on shares of General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective on the stock. UBS Group lifted their price objective on shares of General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Finally, Piper Sandler raised their target price on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other General Motors news, CAO Christopher Hatto sold 6,000 shares of General Motors stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $42.01, for a total value of $252,060.00. Following the completion of the sale, the chief accounting officer now directly owns 15,507 shares in the company, valued at $651,449.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now owns 12,658 shares of the company’s stock, valued at $544,800.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,194,343 shares of company stock worth $53,674,717. 0.72% of the stock is owned by company insiders.

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.