General Motors (NYSE:GM) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia increased its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 411.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 916,177 shares of the auto manufacturer's stock after buying an additional 737,052 shares during the period. Bank of Nova Scotia owned about 0.09% of General Motors worth $48,806,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in 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 purchasing an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp bought a new position in shares of General Motors during the fourth quarter worth about $474,000. Asset Management One Co. Ltd. raised its position in shares of General Motors by 9.3% during the fourth 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 during the last quarter. Avantra Family Wealth Inc. bought a new stake in General Motors in the fourth quarter valued at approximately $1,044,000. Finally, Handelsbanken Fonder AB boosted its holdings in General Motors by 10.9% in the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock valued at $10,763,000 after acquiring an additional 19,924 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several research firms recently issued reports on GM. The Goldman Sachs Group dropped their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a report on Monday. Wells Fargo & Company reaffirmed an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. StockNews.com lowered shares of General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, General Motors has a consensus rating of "Hold" and an average price target of $58.39.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company's stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

General Motors Trading Down 0.2 %

Shares of GM traded down $0.09 during mid-day trading on Monday, reaching $43.54. 2,056,616 shares of the company's stock traded hands, compared to its average volume of 13,504,549. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. 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 stock has a market cap of $43.32 billion, a P/E ratio of 7.08, a P/E/G ratio of 0.67 and a beta of 1.27. The stock's 50-day moving average is $47.36 and its two-hundred day moving average is $50.39.

General Motors (NYSE:GM - Get Free Report) 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, 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%. Research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.10%. General Motors's dividend payout ratio is currently 7.80%.

General Motors announced that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is 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.