Victory Capital Management Inc. Purchases 932,836 Shares of General Motors (NYSE:GM)

Victory Capital Management Inc. lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 80.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,085,350 shares of the auto manufacturer’s stock after purchasing an additional 932,836 shares during the quarter. Victory Capital Management Inc. owned 0.21% of General Motors worth $111,087,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in General Motors by 20.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer’s stock worth $270,000 after acquiring an additional 1,019 shares during the last quarter. Van ECK Associates Corp grew its holdings in General Motors by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer’s stock worth $1,587,000 after acquiring an additional 2,015 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in General Motors during the 3rd quarter worth about $27,000. Catalina Capital Group LLC grew its holdings in General Motors by 20.8% during the 3rd quarter. Catalina Capital Group LLC now owns 7,202 shares of the auto manufacturer’s stock worth $323,000 after acquiring an additional 1,239 shares during the last quarter. Finally, Foster & Motley Inc. grew its holdings in General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after acquiring an additional 25,869 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $48.48 on Thursday. 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 company has a market capitalization of $48.24 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company’s 50 day moving average price is $49.98 and its two-hundred day moving average price is $50.45. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results 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 net margin of 3.21% and a return on equity of 15.29%. On average, analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. General Motors’s dividend payout ratio is currently 7.80%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, UBS Group restated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.71.

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.