87,463 Shares in General Motors (NYSE:GM) Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. bought a new stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 87,463 shares of the auto manufacturer's stock, valued at approximately $4,659,000.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in General Motors during the fourth quarter worth $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the 4th quarter worth about $26,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the 4th quarter worth about $27,000. Duncker Streett & Co. Inc. lifted its holdings in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in General Motors in the fourth quarter valued at about $28,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GM. TD Cowen began coverage on General Motors in a report on Friday, March 7th. They set a "buy" rating and a $105.00 price target for the company. UBS Group reaffirmed a "buy" rating on shares of General Motors in a report on Monday, February 3rd. The Goldman Sachs Group set a $73.00 price objective on shares of General Motors in a research report on Saturday, March 1st. Wells Fargo & Company reaffirmed an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Mizuho increased their price target on shares of General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a research note 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $63.06.

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General Motors Trading Up 2.3 %

NYSE:GM traded up $1.16 during trading hours on Tuesday, hitting $52.62. The stock had a trading volume of 14,834,275 shares, compared to its average volume of 12,886,448. The business's 50 day moving average is $49.05 and its 200-day moving average is $50.51. The company has a market cap of $52.36 billion, a price-to-earnings ratio of 8.56, a P/E/G ratio of 0.67 and a beta of 1.42. 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 quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data 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 return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 dividend on an annualized basis and a yield of 0.91%. General Motors's payout ratio is 7.80%.

General Motors announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding 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 generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate 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.