Assenagon Asset Management S.A. Raises Holdings in General Motors (NYSE:GM)

Assenagon Asset Management S.A. lifted its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 305.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,858,959 shares of the auto manufacturer's stock after purchasing an additional 2,154,037 shares during the quarter. Assenagon Asset Management S.A. owned 0.29% of General Motors worth $134,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of General Motors in the 4th quarter valued at about $25,404,000. Asset Management One Co. Ltd. lifted its stake in shares of General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock valued at $25,178,000 after acquiring an additional 39,474 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of General Motors by 10.9% in the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock valued at $10,763,000 after acquiring an additional 19,924 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of General Motors by 65.3% in the 4th quarter. Vontobel Holding Ltd. now owns 64,930 shares of the auto manufacturer's stock valued at $3,459,000 after acquiring an additional 25,639 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its stake in shares of General Motors by 150.0% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 52,500 shares of the auto manufacturer's stock valued at $2,797,000 after acquiring an additional 31,500 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Down 1.3%

NYSE:GM traded down $0.64 during mid-day trading on Friday, hitting $48.62. 8,701,633 shares of the company's stock were exchanged, compared to its average volume of 12,978,177. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The business has a fifty day moving average price of $47.21 and a 200 day moving average price of $49.11. The company has a market cap of $46.74 billion, a PE ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.34.

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

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

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 issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. General Motors's dividend payout ratio (DPR) is presently 8.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wedbush lowered their target price on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. lowered their price target on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. TD Cowen began coverage on General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 price target for the company. Citigroup began coverage on General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price target for the company. Finally, Sanford C. Bernstein set a $36.00 price target on General Motors in a research report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Motors presently has a consensus rating of "Hold" and an average target price of $53.35.

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.