Russell Investments Group Ltd. Sells 101,596 Shares of General Motors (NYSE:GM)

Russell Investments Group Ltd. reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,135,157 shares of the auto manufacturer’s stock after selling 101,596 shares during the period. Russell Investments Group Ltd.’s holdings in General Motors were worth $167,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in General Motors in the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc bought a new stake in shares of General Motors during the fourth quarter valued at approximately $27,000. Whittier Trust Co. raised its position in shares of General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares during the period. Finally, Duncker Streett & Co. Inc. lifted its holdings in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Down 3.7 %

GM opened at $44.22 on Friday. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company’s 50-day moving average price is $48.22 and its two-hundred day moving average price is $50.55. The stock has a market cap of $44.00 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 0.67 and a beta of 1.27. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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 return on equity of 15.29% and a net margin of 3.21%. As a group, equities analysts expect that General Motors will post 11.44 earnings per share for the current year.

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

General Motors Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent research reports. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price target on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Piper Sandler lifted their price target on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.11.

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.