21,943 Shares in General Motors (NYSE:GM) Acquired by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan purchased a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,943 shares of the auto manufacturer's stock, valued at approximately $1,169,000.

Several other hedge funds have also made changes to their positions in GM. Belpointe Asset Management LLC lifted its holdings in General Motors by 10.2% during the 4th quarter. Belpointe Asset Management LLC now owns 35,428 shares of the auto manufacturer's stock worth $1,764,000 after buying an additional 3,282 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of General Motors by 46.8% in the fourth quarter. CreativeOne Wealth LLC now owns 12,735 shares of the auto manufacturer's stock valued at $678,000 after acquiring an additional 4,062 shares in the last quarter. Cohen & Steers Inc. boosted its holdings in General Motors by 5.3% in the fourth quarter. Cohen & Steers Inc. now owns 6,837 shares of the auto manufacturer's stock valued at $364,000 after purchasing an additional 345 shares during the period. Trustmark National Bank Trust Department grew its stake in General Motors by 6.5% during the 4th quarter. Trustmark National Bank Trust Department now owns 27,582 shares of the auto manufacturer's stock worth $1,469,000 after purchasing an additional 1,691 shares in the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in General Motors during the 4th quarter worth about $382,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on GM. Piper Sandler boosted their price objective on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. The Goldman Sachs Group lowered their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Mizuho dropped their price objective on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. TD Cowen started coverage on shares of General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.72.

General Motors Stock Performance

Shares of NYSE GM traded up $0.33 during midday trading on Friday, reaching $44.55. 11,706,110 shares of the company were exchanged, compared to its average volume of 13,552,778. The stock has a market cap of $44.32 billion, a P/E ratio of 7.24, a PEG ratio of 0.67 and a beta of 1.27. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The stock has a fifty day simple moving average of $47.10 and a 200 day simple moving average of $50.37. 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 - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% 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 firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's dividend payout ratio (DPR) is presently 7.80%.

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.