Public Employees Retirement Association of Colorado Grows Holdings in General Motors (NYSE:GM)

Public Employees Retirement Association of Colorado raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 33.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,909,540 shares of the auto manufacturer’s stock after purchasing an additional 736,457 shares during the period. Public Employees Retirement Association of Colorado owned 0.26% of General Motors worth $135,177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the 1st quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC boosted its holdings in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the period. Cape Investment Advisory Inc. boosted its holdings in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares during the period. Finally, Montag A & Associates Inc. acquired a new position in shares of General Motors in the 1st quarter valued at about $30,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GM shares. UBS Group lifted their price target on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $46.00 to $47.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada reduced their target price on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.27.

General Motors Stock Down 0.1 %

NYSE GM opened at $48.62 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company’s 50 day simple moving average is $46.28 and its 200 day simple moving average is $45.17. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The company has a market capitalization of $55.47 billion, a P/E ratio of 5.94, a PEG ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

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

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s dividend payout ratio is currently 5.87%.

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.