Aigen Investment Management LP Sells 14,206 Shares of General Motors (NYSE:GM)

Aigen Investment Management LP decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 35.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,126 shares of the auto manufacturer’s stock after selling 14,206 shares during the quarter. Aigen Investment Management LP’s holdings in General Motors were worth $1,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GM. Farther Finance Advisors LLC raised its holdings in shares of General Motors by 20.4% in the third quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer’s stock valued at $270,000 after purchasing an additional 1,019 shares during the last quarter. Van ECK Associates Corp lifted its position in General Motors by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer’s stock worth $1,587,000 after buying an additional 2,015 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the 3rd quarter worth about $27,000. Catalina Capital Group LLC grew its holdings in shares of General Motors by 20.8% in the 3rd quarter. Catalina Capital Group LLC now owns 7,202 shares of the auto manufacturer’s stock valued at $323,000 after acquiring an additional 1,239 shares in the last quarter. Finally, Foster & Motley Inc. increased its position in shares of General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after acquiring an additional 25,869 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of NYSE GM opened at $48.48 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market cap of $48.24 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.67 and a beta of 1.42. The stock’s fifty day moving average price is $49.98 and its two-hundred day moving average price is $50.45. General Motors has a one year low of $38.94 and a one year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating 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%. On average, equities analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. General Motors’s dividend payout ratio is presently 7.80%.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares of the company’s stock, 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 document filed with the SEC, which is available through this link. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GM has been the subject of a number of analyst reports. UBS Group restated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.71.

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.