Securian Asset Management Inc. Reduces Stock Position in General Motors (NYSE:GM)

Securian Asset Management Inc. trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,097 shares of the auto manufacturer’s stock after selling 3,065 shares during the period. Securian Asset Management Inc.’s holdings in General Motors were worth $3,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in shares of General Motors in the fourth quarter valued at $25,000. Crews Bank & Trust bought a new stake in shares of General Motors during the fourth quarter valued at about $26,000. Truvestments Capital LLC purchased a new stake in shares of General Motors in the third quarter worth about $27,000. Compass Planning Associates Inc bought a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. Finally, Duncker Streett & Co. Inc. boosted its position in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $47.92 on Thursday. The company has a 50-day simple moving average of $49.38 and a two-hundred day simple moving average of $50.49. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The firm has a market cap of $47.68 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

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 the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. 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 authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The company 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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is 7.80%.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. 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. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research report on Wednesday, December 11th. Mizuho boosted their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, TD Cowen started coverage on General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.89.

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.