River Global Investors LLP Sells 22,693 Shares of General Motors (NYSE:GM)

River Global Investors LLP lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 45.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,713 shares of the auto manufacturer’s stock after selling 22,693 shares during the quarter. River Global Investors LLP’s holdings in General Motors were worth $1,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors during the 4th quarter worth $25,000. Crews Bank & Trust acquired a new position in General Motors during the 4th quarter worth $26,000. Catalyst Capital Advisors LLC bought a new stake in General Motors during the third quarter valued at about $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors in the third quarter valued at about $27,000. Finally, Compass Planning Associates Inc bought a new position in shares of General Motors in the fourth quarter worth about $27,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction that occurred 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 acquisition, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on GM shares. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their target price for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Mizuho increased their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.22.

General Motors Stock Performance

General Motors stock opened at $47.39 on Friday. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a fifty day moving average price of $49.70 and a two-hundred day moving average price of $50.44. The firm has a market capitalization of $47.16 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results 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 net margin of 3.21% and a return on equity of 15.29%. As a group, analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

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.