Vicus Capital Purchases 1,080 Shares of General Motors (NYSE:GM)

Vicus Capital increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,365 shares of the auto manufacturer’s stock after purchasing an additional 1,080 shares during the quarter. Vicus Capital’s holdings in General Motors were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GM. LifeSteps Financial Inc. bought a new position in General Motors in the first quarter worth about $25,000. Fortitude Family Office LLC boosted its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Montag A & Associates Inc. purchased a new stake in General Motors in the first quarter worth $30,000. YHB Investment Advisors Inc. bought a new position in General Motors in the first quarter worth $32,000. Finally, LRI Investments LLC bought a new stake in shares of General Motors during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM stock traded up $0.01 during trading hours on Thursday, reaching $46.57. 2,089,806 shares of the company traded hands, compared to its average volume of 15,652,474. The firm has a 50-day moving average price of $45.90 and a 200 day moving average price of $43.95. The company has a market cap of $53.13 billion, a P/E ratio of 5.69, a P/E/G ratio of 0.44 and a beta of 1.43. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.91 earnings per share. As a group, sell-side analysts predict that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm 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. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s payout ratio is 5.87%.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on GM shares. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Mizuho upped their price target on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Sanford C. Bernstein began coverage on General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 price objective for the company. 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. Finally, Royal Bank of Canada reduced their price target on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 150,000 shares of the business’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 transaction, the president now owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly 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 sold a total of 1,152,621 shares of company stock valued at $51,818,111 over the last 90 days. Company insiders own 0.72% of the company’s stock.

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.