Allstate Corp Buys 37,229 Shares of General Motors Company $GM

Key Points

• Allstate Corp more than doubled its stake in General Motors, buying 37,229 additional shares in Q4 and bringing its total holdings to 73,140 shares valued at about $5.95 million.
• General Motors reported strong quarterly results, with EPS of $3.70 versus estimates of $2.61 and revenue of $43.62 billion, slightly ahead of forecasts.
• The company also announced a $6 billion share buyback and a quarterly dividend of $0.18 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $94.65.

Allstate Corp increased its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 103.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,140 shares of the auto manufacturer's stock after buying an additional 37,229 shares during the period. Allstate Corp's holdings in General Motors were worth $5,948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of General Motors during the 4th quarter valued at $25,000. Elevation Wealth Partners LLC raised its position in shares of General Motors by 500.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 330 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 275 shares in the last quarter. Founders Capital Management purchased a new stake in shares of General Motors during the 4th quarter valued at $31,000. Ares Financial Consulting LLC purchased a new stake in shares of General Motors during the 4th quarter valued at $35,000. Finally, Fourth Dimension Wealth LLC raised its position in shares of General Motors by 47.3% during the 4th quarter. Fourth Dimension Wealth LLC now owns 442 shares of the auto manufacturer's stock valued at $36,000 after buying an additional 142 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Price Performance

Shares of General Motors stock opened at $79.92 on Wednesday. The firm has a market cap of $72.06 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 0.40 and a beta of 1.29. General Motors Company has a 12-month low of $46.81 and a 12-month high of $87.62. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.41. The company's fifty day simple moving average is $76.30 and its two-hundred day simple moving average is $77.83.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, April 28th. The auto manufacturer reported $3.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.61 by $1.09. The business had revenue of $43.62 billion for the quarter, compared to analyst estimates of $43.51 billion. General Motors had a net margin of 1.38% and a return on equity of 16.68%. The company's revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.78 EPS. General Motors has set its FY 2026 guidance at 10.620-12.620 EPS. As a group, equities analysts expect that General Motors Company will post 12.85 EPS for the current year.

General Motors declared that its board has initiated a share repurchase program on Tuesday, January 27th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. General Motors's payout ratio is presently 29.03%.

Analyst Ratings Changes

Several analysts have recently weighed in on GM shares. Benchmark raised their price objective on shares of General Motors from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Zacks Research cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 27th. Wall Street Zen upgraded shares of General Motors from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Citigroup lifted their target price on shares of General Motors from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada decreased their target price on shares of General Motors from $96.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.65.

General Motors Company Profile

General Motors Company NYSE: GM is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world's largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM's operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.

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