AIA Group Ltd Boosts Stake in General Motors (NYSE:GM)

AIA Group Ltd grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 75.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,874 shares of the auto manufacturer’s stock after buying an additional 25,294 shares during the period. AIA Group Ltd’s holdings in General Motors were worth $3,136,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the fourth quarter valued at approximately $25,000. Crews Bank & Trust purchased a new position in shares of General Motors during the 4th quarter worth $26,000. Compass Planning Associates Inc acquired a new stake in General Motors in the 4th quarter worth about $27,000. Whittier Trust Co. boosted its position in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 425 shares during the last quarter. Finally, Duncker Streett & Co. Inc. boosted its holdings 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 valued at $27,000 after purchasing an additional 498 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. Mizuho increased their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Piper Sandler increased their price objective on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Three equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.11.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction 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 completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Performance

Shares of GM opened at $47.06 on Tuesday. The firm has a market cap of $46.82 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 0.67 and a beta of 1.42. 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 is $48.81 and its two-hundred day moving average is $50.61. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24.

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 (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

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. This represents a $0.48 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

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

General Motors 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.