AIA Group Ltd Increases Stake 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 boosted 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.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of General Motors by 456.1% in the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after purchasing an additional 31,755 shares during the period. Bessemer Group Inc. raised its holdings in General Motors by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after acquiring an additional 226 shares during the period. Rockefeller Capital Management L.P. raised its holdings in General Motors by 5.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 119,754 shares of the auto manufacturer's stock valued at $6,372,000 after acquiring an additional 6,558 shares during the period. Townsquare Capital LLC raised its holdings in General Motors by 14.4% in the 4th quarter. Townsquare Capital LLC now owns 82,000 shares of the auto manufacturer's stock valued at $4,368,000 after acquiring an additional 10,307 shares during the period. Finally, Sagespring Wealth Partners LLC bought a new position in General Motors in the 4th quarter valued at about $487,000. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Up 0.7%

General Motors stock traded up $0.38 during midday trading on Friday, hitting $56.80. 2,452,226 shares of the stock were exchanged, compared to its average volume of 11,879,501. General Motors Company has a 52-week low of $41.60 and a 52-week high of $61.24. The stock has a market capitalization of $54.07 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The business's 50-day moving average price is $51.52 and its 200-day moving average price is $48.87. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share 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 business had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same period in the previous year, the company earned $3.06 earnings per share. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. On average, research analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. General Motors's payout ratio is 9.52%.

Insider Activity

In related news, EVP Rory Harvey sold 23,977 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America decreased their target price on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their price target on shares of General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 23rd. Citigroup raised their target price on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. CLSA upgraded shares of General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Finally, Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $57.53.

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.