AIA Group Ltd Boosts Stock Holdings in General Motors (NYSE:GM)

AIA Group Ltd lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 26.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 33,580 shares of the auto manufacturer’s stock after acquiring an additional 7,040 shares during the quarter. AIA Group Ltd’s holdings in General Motors were worth $1,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC purchased a new position in General Motors in the first quarter valued at about $493,000. Geneos Wealth Management Inc. raised its stake in shares of General Motors by 47.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,631 shares of the auto manufacturer’s stock worth $210,000 after acquiring an additional 1,494 shares in the last quarter. Forsta AP Fonden lifted its position in General Motors by 12.6% during the first quarter. Forsta AP Fonden now owns 265,000 shares of the auto manufacturer’s stock valued at $12,018,000 after acquiring an additional 29,600 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in General Motors in the first quarter valued at approximately $22,317,000. Finally, Montag A & Associates Inc. purchased a new position in General Motors in the first quarter worth $30,000. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group raised their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

Shares of General Motors stock opened at $55.59 on Friday. General Motors has a twelve month low of $26.30 and a twelve month high of $56.08. The firm has a market cap of $61.13 billion, a PE ratio of 5.93, a P/E/G ratio of 0.39 and a beta of 1.40. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $48.81 and a 200 day moving average price of $46.87.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period last year, the company posted $2.28 EPS. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts predict that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 653,511 shares of company stock worth $35,012,844. Insiders own 0.72% of the company’s stock.

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.