UniSuper Management Pty Ltd Acquires 9,663 Shares of General Motors (NYSE:GM)

UniSuper Management Pty Ltd raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,035 shares of the auto manufacturer’s stock after acquiring an additional 9,663 shares during the period. UniSuper Management Pty Ltd’s holdings in General Motors were worth $4,530,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Amundi lifted its position in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC lifted its holdings in shares of 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 worth $394,060,000 after acquiring an additional 2,104,528 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of General Motors during the 4th quarter worth approximately $108,366,000. Caisse DE Depot ET Placement DU Quebec increased its stake in General Motors by 972.6% in the third 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 during the last quarter. Finally, National Bank of Canada FI raised its position in General Motors by 158.8% during the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after purchasing an additional 1,332,450 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was 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 directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Down 1.2 %

General Motors stock opened at $46.65 on Friday. 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 stock has a market cap of $46.42 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The firm’s 50-day simple moving average is $48.89 and its 200 day simple moving average is $50.53.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating 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%. Research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has authorized 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 reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GM. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Cowen started coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a research report on Saturday, March 1st. Finally, Mizuho upped their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.11.

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.