Auto Owners Insurance Co Increases Stock Position in General Motors Company (NYSE:GM)

Auto Owners Insurance Co lifted its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 9,318.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 923,000 shares of the auto manufacturer's stock after purchasing an additional 913,200 shares during the period. General Motors accounts for 0.8% of Auto Owners Insurance Co's holdings, making the stock its 27th biggest holding. Auto Owners Insurance Co owned about 0.10% of General Motors worth $43,409,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GM. Whittier Trust Co. lifted its holdings in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 425 shares during the period. Measured Risk Portfolios Inc. acquired a new position in General Motors in the fourth quarter valued at $27,000. Transce3nd LLC acquired a new position in General Motors in the fourth quarter valued at $34,000. North Capital Inc. acquired a new position in General Motors in the first quarter valued at $40,000. Finally, Ossiam acquired a new position in General Motors in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Up 2.0%

GM stock traded up $1.04 during trading on Friday, reaching $53.38. The stock had a trading volume of 6,483,783 shares, compared to its average volume of 10,352,842. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $50.82 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 1.10 and a beta of 1.32. General Motors Company has a one year low of $38.96 and a one year high of $61.24. The company's 50 day moving average is $50.23 and its two-hundred day moving average is $48.73.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.06 earnings per share. Equities research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, September 5th. General Motors's payout ratio is 9.52%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GM. Wedbush reaffirmed an "outperform" rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday. Benchmark began coverage on shares of General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 price target for the company. Barclays lifted their price target on shares of General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada lifted their price target on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $56.35.

General Motors Company 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.