Maryland State Retirement & Pension System Has $3.11 Million Holdings in General Motors (NYSE:GM)

Maryland State Retirement & Pension System cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,399 shares of the auto manufacturer’s stock after selling 6,384 shares during the period. Maryland State Retirement & Pension System’s holdings in General Motors were worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after buying an additional 106,878 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after purchasing an additional 989,750 shares during the period. ACR Alpine Capital Research LLC raised its holdings in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of General Motors by 6.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after purchasing an additional 358,507 shares during the period. Finally, Amundi raised its holdings in shares of General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’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 of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Down 0.7 %

Shares of GM opened at $49.46 on Friday. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The firm’s 50 day moving average is $49.02 and its 200-day moving average is $50.46. The stock has a market capitalization of $49.21 billion, a PE ratio of 8.04, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results 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 net margin of 3.21% and a return on equity of 15.29%. Equities research analysts forecast that General Motors will post 11.44 EPS for the current year.

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

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. General Motors’s dividend payout ratio is 7.80%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a report on Saturday, March 1st. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Finally, UBS Group reissued a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.06.

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.