CIBC Asset Management Inc Increases Stock Position in General Motors (NYSE:GM)

CIBC Asset Management Inc lifted its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 179,206 shares of the auto manufacturer's stock after buying an additional 8,513 shares during the quarter. CIBC Asset Management Inc's holdings in General Motors were worth $9,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GM. Trust Point Inc. grew its holdings in General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after buying an additional 193 shares in the last quarter. Allworth Financial LP boosted its stake in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer's stock worth $412,000 after acquiring an additional 205 shares in the last quarter. Avestar Capital LLC boosted its stake in shares of General Motors by 2.3% during the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer's stock worth $430,000 after acquiring an additional 213 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock valued at $131,000 after purchasing an additional 213 shares in the last quarter. Finally, Holistic Planning LLC lifted its holdings in shares of General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock valued at $307,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

General Motors Stock Performance

GM traded down $1.59 on Friday, reaching $46.31. The company had a trading volume of 6,773,091 shares, compared to its average volume of 10,552,047. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The stock has a market cap of $46.07 billion, a P/E ratio of 7.53, a P/E/G ratio of 0.67 and a beta of 1.40. The company's fifty day moving average is $50.81 and its 200 day moving average is $50.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

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 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%. As a group, analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. General Motors's payout ratio is presently 7.80%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GM. Morgan Stanley upgraded General Motors from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Sanford C. Bernstein lifted their target price on General Motors from $53.00 to $55.00 and gave the stock a "market perform" rating in a research report on Friday, October 25th. StockNews.com cut shares of General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. HSBC cut shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. Finally, Hsbc Global Res lowered shares of General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $59.71.

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.