General Motors (NYSE:GM) Stock Position Cut by Staley Capital Advisers Inc.

Staley Capital Advisers Inc. reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,327,017 shares of the auto manufacturer’s stock after selling 25,410 shares during the quarter. General Motors makes up about 3.1% of Staley Capital Advisers Inc.’s holdings, making the stock its 8th biggest holding. Staley Capital Advisers Inc. owned about 0.13% of General Motors worth $70,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Amundi grew its position 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 worth $250,627,000 after buying an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC grew its position 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 worth $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of General Motors in the 4th quarter worth about $108,366,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after buying an additional 1,906,964 shares during the period. Finally, Jennison Associates LLC grew its position in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after buying an additional 1,779,897 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GM shares. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and upped their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. TD Cowen started coverage on shares of General Motors in a research report on Friday. They issued a “buy” rating and a $105.00 target price on the stock. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, StockNews.com downgraded 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 issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $62.89.

General Motors Price Performance

Shares of NYSE:GM opened at $48.10 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 1-year low of $38.94 and a 1-year high of $61.24. The company has a market capitalization of $47.85 billion, a P/E ratio of 7.82, a P/E/G ratio of 0.67 and a beta of 1.42. The firm’s 50 day simple moving average is $49.59 and its two-hundred day simple moving average is $50.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. Research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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

General Motors announced that its board has initiated a stock repurchase 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 buy up to 12.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction dated 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 in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

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.