M&G Plc Has $11.16 Million Position in General Motors (NYSE:GM)

M&G Plc grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 242,669 shares of the auto manufacturer’s stock after buying an additional 11,210 shares during the period. M&G Plc’s holdings in General Motors were worth $11,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new position in shares of General Motors during the first quarter worth approximately $25,000. Fortitude Family Office LLC raised its stake in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the last quarter. Cape Investment Advisory Inc. raised its stake in General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the last quarter. Montag A & Associates Inc. bought a new position in General Motors during the first quarter worth $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in General Motors in the first quarter valued at $32,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Up 0.8 %

Shares of NYSE:GM opened at $43.32 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The firm has a market capitalization of $49.42 billion, a PE ratio of 5.30, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43. The firm’s 50-day moving average is $46.09 and its two-hundred day moving average is $43.68. 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 quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 earnings per share. Analysts predict that General Motors will post 9.94 EPS for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

General Motors declared that its board has authorized a stock repurchase program on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on GM shares. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Barclays boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Bank of America restated a “buy” rating and set a $75.00 price target on shares of General Motors in a research note on Wednesday, June 12th. Sanford C. Bernstein started coverage on shares of General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price on the stock. Finally, Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Insiders have sold a total of 1,152,621 shares of company stock valued at $51,818,111 over the last quarter. Insiders own 0.72% of the company’s stock.

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.