Vicus Capital Buys 1,870 Shares of General Motors (NYSE:GM)

Vicus Capital boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 22.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,285 shares of the auto manufacturer’s stock after acquiring an additional 1,870 shares during the quarter. Vicus Capital’s holdings in General Motors were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Highlander Capital Management LLC acquired a new position in General Motors during the 4th quarter valued at about $27,000. Riverview Trust Co acquired a new stake in shares of General Motors in the 1st quarter valued at approximately $38,000. Cape Investment Advisory Inc. raised its position in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the period. Sachetta LLC acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $33,000. Finally, Bfsg LLC acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $35,000. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of analyst reports. Sanford C. Bernstein initiated coverage on shares of General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target on the stock. Wells Fargo & Company increased their price target on shares of General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday. Piper Sandler increased their price target on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Royal Bank of Canada increased their target price on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Finally, Barclays increased their target price on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.91.

Insider Activity

In other news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, President Mark L. Reuss sold 14,858 shares of General Motors stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the sale, the president now owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock valued at $51,818,111 in the last ninety days. 0.72% of the stock is currently owned by insiders.

General Motors Price Performance

General Motors stock traded up $0.88 during midday trading on Friday, reaching $46.46. The company’s stock had a trading volume of 15,020,440 shares, compared to its average volume of 16,311,914. General Motors has a 52 week low of $26.30 and a 52 week high of $49.35. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $45.60 and a 200-day moving average price of $41.40. The stock has a market cap of $53.01 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.48 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS. On average, sell-side analysts predict that General Motors will post 9.43 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio is presently 5.87%.

General Motors announced that its board has authorized a share buyback program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.