HighPoint Advisor Group LLC Invests $680,000 in General Motors (NYSE:GM)

HighPoint Advisor Group LLC acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,933 shares of the auto manufacturer’s stock, valued at approximately $680,000.

Other large investors also recently bought and sold shares of the company. FinTrust Capital Advisors LLC raised its position in shares of General Motors by 2.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock worth $399,000 after purchasing an additional 268 shares during the last quarter. Summit Financial LLC raised its holdings in shares of General Motors by 4.3% in the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock worth $239,000 after acquiring an additional 273 shares during the last quarter. Pacifica Partners Inc. lifted its position in shares of General Motors by 10.1% in the fourth quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock valued at $107,000 after acquiring an additional 301 shares in the last quarter. RWA Wealth Partners LLC increased its position in General Motors by 5.0% during the 4th quarter. RWA Wealth Partners LLC now owns 6,740 shares of the auto manufacturer’s stock worth $242,000 after purchasing an additional 319 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in General Motors by 0.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 48,789 shares of the auto manufacturer’s stock valued at $1,753,000 after purchasing an additional 356 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares in the company, valued at $540,315. The disclosure for this sale can be found here. Insiders have sold a total of 1,188,343 shares of company stock worth $53,422,657 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GM has been the subject of a number of recent analyst reports. Sanford C. Bernstein assumed coverage on General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective for the company. Wells Fargo & Company increased their target price on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 24th. Morgan Stanley raised their target price on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. UBS Group boosted their price target on General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler boosted their target price on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, General Motors has a consensus rating of “Moderate Buy” and an average target price of $54.65.

General Motors Price Performance

Shares of NYSE GM opened at $47.45 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The firm has a market capitalization of $54.14 billion, a PE ratio of 5.80, a P/E/G ratio of 0.55 and a beta of 1.46. General Motors has a 1-year low of $26.30 and a 1-year high of $49.35. The business’s fifty day moving average price is $44.96 and its two-hundred day moving average price is $40.69.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter last year, the company earned $2.21 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts expect that General Motors will post 9.44 EPS for the current year.

General Motors announced that its Board of Directors has approved a share repurchase plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

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.