Steward Partners Investment Advisory LLC Increases Stock Holdings in General Motors (NYSE:GM)

Steward Partners Investment Advisory LLC boosted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,183 shares of the auto manufacturer’s stock after purchasing an additional 597 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in General Motors were worth $1,981,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GM. ACR Alpine Capital Research LLC raised its stake in General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after acquiring an additional 1,906,964 shares during the last quarter. Jennison Associates LLC increased its stake in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after acquiring an additional 1,779,897 shares during the last quarter. National Bank of Canada FI increased its stake in shares of General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after acquiring an additional 1,332,450 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of General Motors by 35.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock worth $234,364,000 after acquiring an additional 1,159,958 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on GM. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and raised their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, TD Cowen began coverage on General Motors in a research note on Friday. They issued a “buy” rating and a $105.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.22.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of General Motors stock opened at $47.39 on Friday. The business has a 50-day moving average of $49.70 and a 200 day moving average of $50.47. General Motors has a 12 month low of $38.94 and a 12 month high of $61.24. The stock has a market capitalization of $47.16 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is presently 7.80%.

General Motors announced that its board has authorized a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About General Motors

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.