Huber Capital Management LLC Trims Stake in General Motors (NYSE:GM)

Huber Capital Management LLC reduced its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 219,735 shares of the auto manufacturer's stock after selling 63,000 shares during the period. General Motors comprises approximately 2.3% of Huber Capital Management LLC's portfolio, making the stock its 16th biggest holding. Huber Capital Management LLC's holdings in General Motors were worth $11,705,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GM. Blue Trust Inc. lifted its position in General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after purchasing an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp bought a new stake in General Motors during the 4th quarter valued at $474,000. Asset Management One Co. Ltd. boosted its position in General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock valued at $25,178,000 after buying an additional 39,474 shares during the period. Avantra Family Wealth Inc. bought a new stake in General Motors in the 4th quarter worth $1,044,000. Finally, Handelsbanken Fonder AB increased its position in shares of 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 period. 92.67% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of analysts have recently weighed in on GM shares. HSBC lowered 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. Piper Sandler lifted their price objective on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Sanford C. Bernstein downgraded General Motors from a "market perform" rating to an "underperform" rating and decreased their target price for the company from $50.00 to $35.00 in a report on Monday. JPMorgan Chase & Co. dropped their price target on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Motors from a "hold" rating to a "buy" rating and boosted their price objective for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $61.00.

General Motors Stock Down 0.4 %

GM stock traded down $0.17 on Tuesday, reaching $43.36. 6,284,405 shares of the company traded hands, compared to its average volume of 14,036,126. The firm has a fifty day simple moving average of $47.99 and a 200-day simple moving average of $50.55. The company has a market cap of $43.14 billion, a P/E ratio of 7.05, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. General Motors has a one year low of $38.96 and a one year 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.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Research analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's payout ratio is 7.80%.

General Motors announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by insiders.

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.