Generali Asset Management SPA SGR Purchases Shares of 152,543 General Motors (NYSE:GM)

Generali Asset Management SPA SGR purchased a new stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 152,543 shares of the auto manufacturer's stock, valued at approximately $8,126,000.

Several other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. raised 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 worth $488,000 after acquiring an additional 1,510 shares in the last quarter. SYM FINANCIAL Corp purchased a new stake in shares of General Motors during the 4th quarter worth approximately $474,000. Asset Management One Co. Ltd. raised 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 worth $25,178,000 after acquiring an additional 39,474 shares in the last quarter. Avantra Family Wealth Inc. purchased a new stake in shares of General Motors during the 4th quarter worth approximately $1,044,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock worth $10,763,000 after acquiring an additional 19,924 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at $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 can be accessed through this link. Corporate insiders own 0.72% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GM shares. HSBC cut 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. TD Cowen initiated 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. Hsbc Global Res lowered General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. The Goldman Sachs Group set a $73.00 price target on General Motors in a report on Saturday, March 1st. Finally, Piper Sandler increased their price target on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $63.06.

General Motors Stock Up 0.7 %

Shares of GM traded up $0.33 during midday trading on Friday, reaching $49.77. 37,623,460 shares of the stock were exchanged, compared to its average volume of 12,866,566. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company's 50 day moving average is $49.02 and its two-hundred day moving average is $50.46. The company has a market capitalization of $49.53 billion, a P/E ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM - Get Free Report) 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, 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%. On average, sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's payout ratio is 7.80%.

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.