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

AMF Tjanstepension AB bought a new position in General Motors (NYSE:GM - Free Report) TSE: GMM.U during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 299,092 shares of the auto manufacturer's stock, valued at approximately $15,933,000.

Several other institutional investors also recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in shares of General Motors by 20.4% during the third 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 in the last quarter. Van ECK Associates Corp increased its position 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 buying an additional 2,015 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in General Motors during the third quarter valued at $27,000. Principal Financial Group Inc. boosted its holdings in General Motors by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,268,096 shares of the auto manufacturer's stock worth $56,861,000 after acquiring an additional 13,206 shares in the last quarter. Finally, Summit Global Investments grew its stake in shares of General Motors by 81.4% in the third quarter. Summit Global Investments now owns 9,336 shares of the auto manufacturer's stock worth $419,000 after acquiring an additional 4,188 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related 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 bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GM. Deutsche Bank Aktiengesellschaft raised General Motors from a "hold" rating to a "buy" rating and lifted their price target for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. HSBC cut shares of 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. UBS Group restated a "buy" rating on shares of General Motors in a report on Monday, February 3rd. StockNews.com downgraded General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Mizuho lifted their target price on General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $62.22.

General Motors Price Performance

GM stock traded up $0.19 during trading on Friday, reaching $47.39. The company's stock had a trading volume of 13,822,155 shares, compared to its average volume of 11,861,842. The company's fifty day moving average is $49.70 and its 200-day moving average is $50.50. General Motors has a 1 year low of $38.94 and a 1 year high of $61.24. The company has a market capitalization of $47.16 billion, a P/E ratio of 7.71, a price-to-earnings-growth 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.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly 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 net margin of 3.21% and a return on equity of 15.29%. On average, research analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a stock buyback 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 reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors's dividend payout ratio (DPR) is presently 7.80%.

General Motors Company 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.