OVERSEA CHINESE BANKING Corp Ltd Boosts Stake in General Motors (NYSE:GM)

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 72,743 shares of the auto manufacturer’s stock after acquiring an additional 3,016 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Motors were worth $3,880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GM. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors in the 4th quarter worth approximately $26,000. Truvestments Capital LLC purchased a new stake in shares of General Motors in the 3rd quarter worth approximately $27,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors in the 4th quarter worth approximately $27,000. Finally, Duncker Streett & Co. Inc. grew its stake in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by insiders.

General Motors Price Performance

NYSE GM opened at $49.84 on Thursday. The business’s fifty day moving average price is $49.05 and its 200-day moving average price is $50.47. The stock has a market capitalization of $49.59 billion, a price-to-earnings ratio of 8.10, a PEG 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 has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. On average, equities analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. General Motors’s dividend payout ratio is currently 7.80%.

Analyst Ratings Changes

GM has been the topic of several recent research reports. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Cowen initiated coverage on General Motors in a research note on Thursday, March 6th. They issued a “buy” rating on the stock. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.89.

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.