Rakuten Securities Inc. Raises Stock Holdings in General Motors (NYSE:GM)

Rakuten Securities Inc. increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 195.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 792 shares of the auto manufacturer’s stock after purchasing an additional 524 shares during the period. Rakuten Securities Inc.’s holdings in General Motors were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. Geode Capital Management LLC grew its stake in shares of General Motors by 0.5% in the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after acquiring an additional 106,878 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after acquiring an additional 989,750 shares during the last quarter. ACR Alpine Capital Research LLC grew its stake in shares of General Motors by 39.8% in the fourth 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 last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after acquiring an additional 358,507 shares during the last quarter. Finally, Amundi grew its stake in shares of General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Down 0.8 %

GM stock opened at $47.92 on Thursday. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The business’s 50-day moving average is $49.38 and its two-hundred day moving average is $50.49. 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 company has a market cap of $47.68 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.67 and a beta of 1.42.

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, 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%. As a group, analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. General Motors’s payout ratio is currently 7.80%.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Cowen assumed coverage on General Motors in a research note on Thursday, March 6th. They issued a “buy” rating on the stock. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $62.89.

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.