General Motors (NYSE:GM) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,217 shares of the auto manufacturer's stock after purchasing an additional 24,929 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in General Motors were worth $11,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. raised its holdings in General Motors by 9.8% in the 4th quarter. UMB Bank n.a. now owns 7,859 shares of the auto manufacturer's stock worth $419,000 after purchasing an additional 702 shares during the period. Ballentine Partners LLC increased its position in shares of General Motors by 3.6% in the fourth quarter. Ballentine Partners LLC now owns 17,150 shares of the auto manufacturer's stock valued at $914,000 after buying an additional 589 shares in the last quarter. Octavia Wealth Advisors LLC acquired a new position in shares of General Motors during the 4th quarter worth approximately $203,000. Simon Quick Advisors LLC lifted its position in shares of General Motors by 6.9% during the 4th quarter. Simon Quick Advisors LLC now owns 6,703 shares of the auto manufacturer's stock valued at $357,000 after buying an additional 433 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in General Motors by 7.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 172,209 shares of the auto manufacturer's stock valued at $9,174,000 after acquiring an additional 11,550 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GM. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research report on Monday, May 5th. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research report on Monday, May 5th. TD Cowen initiated coverage on General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective on the stock. Wedbush reduced their target price on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Mizuho boosted their price target on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Motors presently has an average rating of "Hold" and an average price target of $54.56.

General Motors Trading Down 1.5%

General Motors stock traded down $0.74 during mid-day trading on Wednesday, hitting $48.36. The company's stock had a trading volume of 3,820,959 shares, compared to its average volume of 13,288,056. The stock's fifty day moving average is $46.95 and its two-hundred day moving average is $49.81. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $46.49 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.62 EPS. On average, analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. General Motors's payout ratio is 8.65%.

General Motors announced that its board has authorized a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

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.