General Motors (NYSE:GM) Stock Holdings Lowered by Prudential Financial Inc.

Prudential Financial Inc. cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,919,753 shares of the auto manufacturer’s stock after selling 77,736 shares during the quarter. Prudential Financial Inc. owned about 0.29% of General Motors worth $155,535,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its holdings in General Motors by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer’s stock worth $2,340,000 after buying an additional 539 shares in the last quarter. Commerce Bank grew its stake in shares of General Motors by 7.7% in the third quarter. Commerce Bank now owns 41,143 shares of the auto manufacturer’s stock worth $1,845,000 after purchasing an additional 2,954 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of General Motors by 54.1% during the third quarter. Advisors Asset Management Inc. now owns 7,075 shares of the auto manufacturer’s stock valued at $317,000 after purchasing an additional 2,484 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of General Motors during the third quarter valued at about $1,998,000. Finally, Nwam LLC bought a new position in General Motors in the 3rd quarter valued at about $247,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on GM. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, December 11th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective on the stock. The Goldman Sachs Group set a $73.00 target price on General Motors in a research note on Saturday, March 1st. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus target price of $63.06.

General Motors Stock Up 0.7 %

General Motors stock opened at $49.77 on Monday. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market cap of $49.53 billion, a PE ratio of 8.09, a P/E/G ratio of 0.67 and a beta of 1.42. The firm’s 50 day moving average price is $49.02 and its two-hundred day moving average price is $50.49.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date was 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%.

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

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.