AMF Tjanstepension AB Takes $15.93 Million Position in General Motors (NYSE:GM)

AMF Tjanstepension AB acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 299,092 shares of the auto manufacturer’s stock, valued at approximately $15,933,000.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after acquiring an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp acquired a new position in shares of General Motors during the 4th quarter valued at about $474,000. Versor Investments LP acquired a new position in shares of General Motors during the 3rd quarter valued at about $1,551,000. Asset Management One Co. Ltd. increased its holdings in shares of General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after acquiring an additional 39,474 shares during the last quarter. Finally, Avantra Family Wealth Inc. acquired a new position in shares of General Motors during the 4th quarter valued at about $1,044,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Price Performance

General Motors stock opened at $47.39 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market capitalization of $47.16 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a one year low of $38.94 and a one year high of $61.24. The business has a 50 day simple moving average of $49.70 and a 200 day simple moving average of $50.44.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping 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, sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its Board of Directors has initiated a stock buyback plan 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 plans are generally an indication 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 given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. TD Cowen assumed coverage on General Motors in a report on Friday. They issued a “buy” rating and a $105.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and raised their target price for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $62.22.

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.