Mariner LLC Cuts Stake in General Motors (NYSE:GM)

Mariner LLC decreased its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,619 shares of the auto manufacturer's stock after selling 81,389 shares during the quarter. Mariner LLC's holdings in General Motors were worth $18,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cohen & Steers Inc. grew its position in General Motors by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 6,837 shares of the auto manufacturer's stock valued at $364,000 after acquiring an additional 345 shares in the last quarter. Trustmark National Bank Trust Department increased its stake in General Motors by 6.5% during the 4th quarter. Trustmark National Bank Trust Department now owns 27,582 shares of the auto manufacturer's stock worth $1,469,000 after buying an additional 1,691 shares during the period. SageView Advisory Group LLC purchased a new position in General Motors in the 4th quarter valued at approximately $382,000. Sagespring Wealth Partners LLC acquired a new position in shares of General Motors in the fourth quarter worth $487,000. Finally, Townsquare Capital LLC increased its position in shares of General Motors by 14.4% during the fourth quarter. Townsquare Capital LLC now owns 82,000 shares of the auto manufacturer's stock worth $4,368,000 after acquiring an additional 10,307 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GM shares. Sanford C. Bernstein lowered General Motors from a "market perform" rating to an "underperform" rating and reduced their price target for the company from $50.00 to $35.00 in a research report on Monday, April 7th. TD Cowen assumed coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. The Goldman Sachs Group lowered their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 10th. StockNews.com downgraded General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Mizuho reduced their price objective on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, General Motors currently has an average rating of "Hold" and an average price target of $56.72.

General Motors Price Performance

General Motors stock traded up $0.83 during midday trading on Tuesday, reaching $45.22. 1,562,246 shares of the company were exchanged, compared to its average volume of 14,005,781. The firm's 50-day simple moving average is $47.03 and its 200-day simple moving average is $50.36. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The company has a market capitalization of $44.99 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 0.67 and a beta of 1.27. 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 posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. On average, analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's dividend payout ratio (DPR) is 7.80%.

General Motors announced that its board has initiated a share buyback program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost 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. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.