Victory Capital Management Inc. Purchases 932,836 Shares of General Motors (NYSE:GM)

Victory Capital Management Inc. lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 80.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,085,350 shares of the auto manufacturer’s stock after buying an additional 932,836 shares during the quarter. Victory Capital Management Inc.’s holdings in General Motors were worth $111,087,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in General Motors by 20.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer’s stock valued at $270,000 after purchasing an additional 1,019 shares during the last quarter. Van ECK Associates Corp lifted its holdings in General Motors by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer’s stock valued at $1,587,000 after purchasing an additional 2,015 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the 3rd quarter valued at $27,000. Catalina Capital Group LLC lifted its holdings in General Motors by 20.8% during the 3rd quarter. Catalina Capital Group LLC now owns 7,202 shares of the auto manufacturer’s stock valued at $323,000 after purchasing an additional 1,239 shares during the last quarter. Finally, Foster & Motley Inc. lifted its holdings in General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after purchasing an additional 25,869 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GM has been the subject of several research reports. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Mizuho raised their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average target price of $59.71.

General Motors Stock Performance

General Motors stock opened at $48.48 on Thursday. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The business’s 50-day moving average price is $49.98 and its two-hundred day moving average price is $50.45. The stock has a market cap of $48.24 billion, a PE ratio of 7.88, a P/E/G ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

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

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated 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 owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

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.