Quinn Opportunity Partners LLC Sells 170,393 Shares of General Motors (NYSE:GM)

Quinn Opportunity Partners LLC cut its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 57.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,107 shares of the auto manufacturer's stock after selling 170,393 shares during the quarter. Quinn Opportunity Partners LLC's holdings in General Motors were worth $6,718,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GM. Blue Trust Inc. lifted its position in General Motors by 19.7% during the 4th 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 period. SYM FINANCIAL Corp acquired a new stake in General Motors in the 4th quarter valued at about $474,000. Asset Management One Co. Ltd. raised its stake in General Motors by 9.3% in 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 acquiring an additional 39,474 shares during the period. Avantra Family Wealth Inc. bought a new stake in shares of General Motors during the 4th quarter worth about $1,044,000. Finally, Handelsbanken Fonder AB increased its stake in shares of General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock worth $10,763,000 after purchasing an additional 19,924 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

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General Motors Stock Up 3.3 %

NYSE:GM traded up $1.42 during midday trading on Monday, reaching $45.05. 22,015,481 shares of the stock traded hands, compared to its average volume of 13,583,292. The stock has a market capitalization of $44.82 billion, a PE ratio of 7.33, a price-to-earnings-growth 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. The business has a 50-day moving average of $47.36 and a two-hundred day moving average of $50.39. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating 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%. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has approved a share buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

General Motors Announces Dividend

The company 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. This represents a $0.48 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, March 7th. General Motors's payout ratio is 7.80%.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com cut General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Piper Sandler lifted their price target on shares of General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. UBS Group restated a "neutral" rating and set a $51.00 price target (down previously from $64.00) on shares of General Motors in a report on Thursday. Finally, Cowen assumed coverage on General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten 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 target price of $58.39.

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.