Legal & General Group Plc Has $469.72 Million Stock Holdings in General Motors (NYSE:GM)

Legal & General Group Plc lessened its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,817,706 shares of the auto manufacturer's stock after selling 2,062,878 shares during the period. Legal & General Group Plc owned approximately 0.89% of General Motors worth $469,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GM. Trek Financial LLC raised its stake in General Motors by 23.1% in the 4th quarter. Trek Financial LLC now owns 25,269 shares of the auto manufacturer's stock worth $1,346,000 after purchasing an additional 4,750 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of General Motors by 90.6% during the fourth quarter. Federated Hermes Inc. now owns 643,349 shares of the auto manufacturer's stock worth $34,271,000 after purchasing an additional 305,793 shares during the period. Quadrant Capital Group LLC raised its position in shares of General Motors by 5.0% in the fourth quarter. Quadrant Capital Group LLC now owns 8,417 shares of the auto manufacturer's stock valued at $448,000 after buying an additional 400 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of General Motors in the fourth quarter valued at approximately $5,327,000. Finally, Wedbush Securities Inc. grew its position in General Motors by 5.2% during the fourth quarter. Wedbush Securities Inc. now owns 25,483 shares of the auto manufacturer's stock worth $1,357,000 after buying an additional 1,253 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

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Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company's stock.

General Motors Trading Down 0.2 %

Shares of NYSE:GM traded down $0.08 during midday trading on Friday, hitting $43.65. 10,731,393 shares of the stock were exchanged, compared to its average volume of 13,549,381. The business's 50-day moving average price is $47.36 and its 200 day moving average price is $50.39. 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 has a 12 month low of $38.96 and a 12 month high of $61.24. The stock has a market capitalization of $43.43 billion, a price-to-earnings ratio of 7.10, 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 issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping 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%. Analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's dividend payout ratio is currently 7.80%.

Analysts Set New Price Targets

Several brokerages have weighed in on GM. Cowen began coverage on General Motors in a report on Thursday, March 6th. They issued a "buy" rating for the company. Piper Sandler boosted their price target on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a "hold" rating to a "buy" rating and upped their price objective for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group decreased their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, General Motors presently has an average rating of "Hold" and an average price target of $59.33.

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.