General Motors (NYSE:GM) Shares Acquired by Cohen & Steers Inc.

Cohen & Steers Inc. increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 5.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,837 shares of the auto manufacturer’s stock after purchasing an additional 345 shares during the period. Cohen & Steers Inc.’s holdings in General Motors were worth $364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trustmark National Bank Trust Department raised its holdings in shares of General Motors by 6.5% during the fourth quarter. Trustmark National Bank Trust Department now owns 27,582 shares of the auto manufacturer’s stock worth $1,469,000 after purchasing an additional 1,691 shares during the period. SageView Advisory Group LLC acquired a new stake in General Motors during the fourth quarter worth about $382,000. Sagespring Wealth Partners LLC acquired a new position in General Motors in the fourth quarter valued at approximately $487,000. Townsquare Capital LLC raised its position in shares of General Motors by 14.4% during the 4th quarter. Townsquare Capital LLC now owns 82,000 shares of the auto manufacturer’s stock worth $4,368,000 after purchasing an additional 10,307 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of General Motors by 5.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 119,754 shares of the auto manufacturer’s stock worth $6,372,000 after purchasing an additional 6,558 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Price Performance

Shares of NYSE:GM opened at $44.55 on Wednesday. The company’s fifty day moving average is $47.24 and its two-hundred day moving average is $50.34. The company has a market cap of $44.33 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. 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 announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business 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 annualized dividend and a yield of 1.08%. General Motors’s dividend payout ratio is presently 7.80%.

General Motors announced that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

GM has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Mizuho cut their price objective on shares of General Motors from $63.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group cut their target price on General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research note on Monday. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.72.

Insiders Place Their Bets

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

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.