UniSuper Management Pty Ltd Acquires 9,663 Shares of General Motors (NYSE:GM)

UniSuper Management Pty Ltd lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 12.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 85,035 shares of the auto manufacturer’s stock after acquiring an additional 9,663 shares during the quarter. UniSuper Management Pty Ltd’s holdings in General Motors were worth $4,530,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GM. Trust Point Inc. increased its stake in General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares during the period. Continuum Advisory LLC grew its holdings in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares during the last quarter. Holistic Planning LLC grew its holdings in shares of General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after purchasing an additional 214 shares during the last quarter. Norden Group LLC increased its stake in shares of General Motors by 3.0% in the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock worth $421,000 after buying an additional 229 shares during the period. Finally, Hilltop National Bank raised its holdings in General Motors by 6.9% during the 4th quarter. Hilltop National Bank now owns 3,876 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM opened at $46.65 on Friday. The company has a market cap of $46.42 billion, a P/E ratio of 7.59, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a 52-week low of $38.96 and a 52-week 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’s fifty day moving average is $48.89 and its two-hundred day moving average is $50.53.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping 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 anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s payout ratio is currently 7.80%.

General Motors announced that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

GM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and raised their price target for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. TD Cowen began coverage on General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price target on the stock. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.11.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.