American Century Companies Inc. Sells 209,758 Shares of General Motors (NYSE:GM)

American Century Companies Inc. cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,758,261 shares of the auto manufacturer’s stock after selling 209,758 shares during the quarter. American Century Companies Inc. owned 0.18% of General Motors worth $93,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GM. Geode Capital Management LLC grew its stake in shares of General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after purchasing an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after buying an additional 989,750 shares during the last quarter. ACR Alpine Capital Research LLC grew its position in General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in General Motors by 6.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after buying an additional 358,507 shares during the last quarter. Finally, Amundi raised its position in General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. TD Cowen started coverage on General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective on the stock. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors currently has an average rating of “Hold” and an average price target of $63.06.

General Motors Trading Up 3.3 %

Shares of GM stock opened at $51.47 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $51.21 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The stock’s 50-day moving average price is $49.05 and its 200-day moving average price is $50.51.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. General Motors’s payout ratio is currently 7.80%.

General Motors 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.