Victory Capital Management Inc. Boosts Stock Position in General Motors (NYSE:GM)

Victory Capital Management Inc. grew its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 80.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,085,350 shares of the auto manufacturer's stock after acquiring an additional 932,836 shares during the period. Victory Capital Management Inc. owned 0.21% of General Motors worth $111,087,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. ACR Alpine Capital Research LLC increased its position in General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer's stock valued at $94,300,000 after acquiring an additional 1,906,964 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock valued at $144,655,000 after acquiring an additional 1,779,897 shares during the period. National Bank of Canada FI raised its position in shares of General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer's stock worth $97,374,000 after acquiring an additional 1,332,450 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in shares of General Motors by 35.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer's stock worth $234,364,000 after purchasing an additional 1,159,958 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

GM has been the topic of several analyst reports. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Mizuho lifted their price objective on shares of General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. HSBC cut shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 target price for the company. in a research report on Wednesday, December 11th. TD Cowen assumed coverage on shares of General Motors in a report on Friday. They issued a "buy" rating and a $105.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a "hold" rating to a "buy" rating and increased their price objective for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $62.22.

General Motors Stock Performance

NYSE GM traded up $0.19 on Friday, hitting $47.39. 13,822,155 shares of the company's stock traded hands, compared to its average volume of 11,861,842. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 1-year low of $38.94 and a 1-year high of $61.24. The firm's 50-day moving average price is $49.70 and its two-hundred day moving average price is $50.47. The firm has a market capitalization of $47.16 billion, a PE ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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%. As a group, analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. General Motors's payout ratio is 7.80%.

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

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. acquired 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 transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

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.