AIA Group Ltd Raises Stock Holdings in General Motors Company (NYSE:GM)

Key Points

• AIA Group Ltd increased its stake in General Motors by 50.8% during the first quarter, owning a total of 88,782 shares valued at approximately $4.17 million.
• Recent institutional investments have been significant, with hedge funds like Measured Risk Portfolios Inc. and Costello Asset Management INC each acquiring new stakes in General Motors.
• General Motors plans to pay a $0.15 quarterly dividend on September 18th, translating to an annualized yield of 1.1%, with a low payout ratio of 9.52%.

AIA Group Ltd lifted its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 50.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 88,782 shares of the auto manufacturer's stock after acquiring an additional 29,908 shares during the period. AIA Group Ltd's holdings in General Motors were worth $4,175,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after acquiring an additional 6,395,375 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of General Motors by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after buying an additional 228,408 shares during the period. Invesco Ltd. grew its holdings in General Motors by 4.5% during the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock valued at $646,482,000 after purchasing an additional 594,217 shares during the period. Northern Trust Corp grew its holdings in General Motors by 8.1% during the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after purchasing an additional 822,454 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in General Motors by 12.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,447,099 shares of the auto manufacturer's stock valued at $444,297,000 after purchasing an additional 1,020,386 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Trading Up 1.6%

NYSE:GM traded up $0.91 on Thursday, reaching $56.49. 6,642,983 shares of the stock traded hands, compared to its average volume of 11,941,520. The firm has a market capitalization of $53.78 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The company's 50 day moving average is $51.34 and its 200-day moving average is $48.86. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter last year, the firm posted $3.06 EPS. The company's quarterly revenue was down 1.8% on a year-over-year basis. Equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.1%. General Motors's dividend payout ratio (DPR) is 9.52%.

Wall Street Analyst Weigh In

GM has been the topic of a number of research reports. Piper Sandler reissued a "neutral" rating and issued a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Barclays boosted their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research report on Monday, May 5th. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Finally, Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a research report on Friday, July 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors has an average rating of "Hold" and an average target price of $57.53.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the sale, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. The trade was a 73.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.54% 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.