Raymond James Financial Inc. Acquires New Holdings in General Motors (NYSE:GM)

Raymond James Financial Inc. acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,034,284 shares of the auto manufacturer’s stock, valued at approximately $108,366,000. Raymond James Financial Inc. owned about 0.20% of General Motors at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trust Point Inc. lifted its position in shares of General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after purchasing an additional 193 shares in the last quarter. Avestar Capital LLC lifted its position in shares of General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after purchasing an additional 213 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after purchasing an additional 213 shares in the last quarter. Holistic Planning LLC lifted its position in shares of General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after purchasing an additional 214 shares in the last quarter. Finally, Norden Group LLC lifted its position in shares of General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock valued at $421,000 after purchasing an additional 229 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of NYSE:GM opened at $47.39 on Friday. The company has a 50 day moving average of $49.70 and a 200 day moving average of $50.47. The stock has a market cap 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 has a 12 month low of $38.94 and a 12 month high of $61.24. 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 issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its board has approved 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 buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. General Motors’s dividend payout ratio is presently 7.80%.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GM. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. TD Cowen began coverage on shares of General Motors in a research report on Friday. They issued a “buy” rating and a $105.00 price objective on the stock. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $62.22.

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.