4,462 Shares in General Motors (NYSE:GM) Acquired by Allstate Corp

Allstate Corp bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,462 shares of the auto manufacturer’s stock, valued at approximately $202,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in General Motors during the fourth quarter worth approximately $602,280,000. Hotchkis & Wiley Capital Management LLC increased its position in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares during the period. Putnam Investments LLC increased its position in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of General Motors by 1,213.0% in the fourth 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 purchasing an additional 2,035,925 shares during the period. Finally, Caxton Associates LP increased its holdings in shares of General Motors by 1,514.2% in the fourth quarter. Caxton Associates LP now owns 1,755,334 shares of the auto manufacturer’s stock valued at $63,052,000 after purchasing an additional 1,646,594 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GM. Barclays boosted their target price on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Wedbush boosted their target price on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Bank of America reissued a “buy” rating and issued a $75.00 target price on shares of General Motors in a report on Wednesday, June 12th. Citigroup boosted their target price on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Sanford C. Bernstein started coverage on General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Motors has a consensus rating of “Moderate Buy” and an average target price of $55.96.

Insider Activity

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

General Motors Price Performance

GM traded up $1.26 during trading on Monday, reaching $49.56. 17,028,850 shares of the stock were exchanged, compared to its average volume of 15,705,100. The business’s 50 day moving average price is $46.43 and its two-hundred day moving average price is $42.71. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The company has a market capitalization of $56.55 billion, a price-to-earnings ratio of 5.90, a P/E/G ratio of 0.51 and a beta of 1.43. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 earnings per share. As a group, equities research analysts anticipate that General Motors will post 9.43 earnings per share for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. General Motors’s dividend payout ratio is currently 5.87%.

General Motors declared that its board has approved a stock 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 typically a sign that the company’s management believes its stock is undervalued.

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.