Asahi Life Asset Management CO. LTD. Takes Position in General Motors Company (NYSE:GM)

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,750 shares of the auto manufacturer's stock, valued at approximately $412,000.

A number of other large investors also recently bought and sold shares of the business. Nemes Rush Group LLC raised its holdings in General Motors by 18.7% in the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after buying an additional 217 shares during the last quarter. Operose Advisors LLC raised its holdings in General Motors by 18.7% in the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after buying an additional 223 shares during the last quarter. Bessemer Group Inc. raised its holdings in General Motors by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after buying an additional 226 shares during the last quarter. Hohimer Wealth Management LLC raised its holdings in General Motors by 0.3% in the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock worth $3,310,000 after buying an additional 230 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in General Motors by 3.6% in the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock worth $316,000 after buying an additional 235 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GM. UBS Group decreased their target price on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Citigroup began coverage on shares of General Motors in a report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 target price for the company. Deutsche Bank Aktiengesellschaft cut shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a report on Monday, April 14th. Mizuho lifted their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Wedbush cut their target price on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $53.35.

General Motors Trading Up 0.4%

GM opened at $53.36 on Monday. General Motors Company has a 12 month low of $38.96 and a 12 month high of $61.24. The stock has a 50-day moving average of $49.33 and a 200 day moving average of $48.69. The firm has a market cap of $51.30 billion, a P/E ratio of 7.69, a P/E/G ratio of 1.44 and a beta of 1.32. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The business had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the previous year, the business earned $2.62 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.60 annualized dividend and a yield of 1.12%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is 8.65%.

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.

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