Elo Mutual Pension Insurance Co Lowers Stock Holdings in General Motors (NYSE:GM)

Elo Mutual Pension Insurance Co cut its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,754 shares of the auto manufacturer's stock after selling 6,404 shares during the period. Elo Mutual Pension Insurance Co's holdings in General Motors were worth $5,847,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GM. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of General Motors by 5.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,768,244 shares of the auto manufacturer's stock worth $91,542,000 after purchasing an additional 88,748 shares in the last quarter. Korea Investment CORP lifted its holdings in General Motors by 15.1% during the 4th quarter. Korea Investment CORP now owns 1,148,058 shares of the auto manufacturer's stock worth $61,157,000 after buying an additional 150,536 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of General Motors during the 4th quarter worth about $1,343,000. Ausdal Financial Partners Inc. purchased a new position in shares of General Motors in the 4th quarter valued at about $277,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of General Motors during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on GM. UBS Group reissued a "buy" rating on shares of General Motors in a report on Monday, February 3rd. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a research report on Saturday, March 1st. JPMorgan Chase & Co. dropped their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. TD Cowen initiated coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 target price for the company. Finally, Mizuho lifted their price target on General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of "Hold" and a consensus target price of $62.11.

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General Motors Price Performance

Shares of General Motors stock traded up $0.50 during trading on Tuesday, reaching $47.53. The company's stock had a trading volume of 2,605,608 shares, compared to its average volume of 13,299,495. The business has a 50 day moving average price of $48.81 and a 200-day moving average price of $50.61. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a market capitalization of $47.29 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 issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

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

General Motors declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company's stock in a transaction on 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 owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company's stock.

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.