BI Asset Management Fondsmaeglerselskab A S Grows Stock Position in General Motors (NYSE:GM)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 57.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,980 shares of the auto manufacturer's stock after acquiring an additional 107,481 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in General Motors were worth $15,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Virtu Financial LLC boosted its stake in shares of General Motors by 770.3% in the third quarter. Virtu Financial LLC now owns 99,054 shares of the auto manufacturer's stock valued at $4,442,000 after buying an additional 87,672 shares in the last quarter. Te Ahumairangi Investment Management Ltd boosted its position in shares of General Motors by 6.6% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 100,708 shares of the auto manufacturer's stock worth $4,490,000 after purchasing an additional 6,200 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of General Motors during the 3rd quarter worth $237,000. Wilmington Savings Fund Society FSB purchased a new position in shares of General Motors in the 3rd quarter valued at about $1,907,000. Finally, Tidal Investments LLC lifted its stake in shares of General Motors by 44.7% in the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer's stock valued at $2,932,000 after purchasing an additional 20,206 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Trading Up 2.2 %

Shares of GM traded up $1.02 during mid-day trading on Thursday, hitting $46.86. The company had a trading volume of 7,506,473 shares, compared to its average volume of 13,370,359. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. 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 simple moving average is $46.92 and its 200-day simple moving average is $50.29. The stock has a market cap of $46.63 billion, a PE ratio of 7.62, a P/E/G ratio of 0.67 and a beta of 1.27.

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 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%. Sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

General Motors Announces Dividend

The company also recently declared 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 1.02%. General Motors's dividend payout ratio is presently 7.80%.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was 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 of the company's stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction 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.

Analyst Ratings Changes

A number of research firms have recently issued reports on GM. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Cowen began coverage on General Motors in a research report on Thursday, March 6th. They set a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target for the company. in a research report on Monday, April 14th. Barclays lowered shares of General Motors from an "overweight" rating to a "negative" rating in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.83.

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.