Mackenzie Financial Corp Has $36.36 Million Stake in General Motors (NYSE:GM)

Mackenzie Financial Corp lessened its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 682,570 shares of the auto manufacturer's stock after selling 76,488 shares during the period. Mackenzie Financial Corp owned about 0.07% of General Motors worth $36,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in GM. Norges Bank purchased a new stake in General Motors during the fourth quarter worth about $592,321,000. Amundi lifted its holdings in shares of General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC lifted its holdings in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of General Motors during the 4th quarter valued at approximately $108,366,000. Finally, National Bank of Canada FI grew its stake in General Motors by 54.4% in the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after acquiring an additional 1,180,936 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

NYSE GM traded down $0.93 on Wednesday, hitting $48.16. The company had a trading volume of 8,393,272 shares, compared to its average volume of 13,304,143. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a market capitalization of $46.30 billion, a PE ratio of 7.83, a PEG ratio of 0.67 and a beta of 1.36. The company's fifty day moving average price is $46.95 and its 200-day moving average price is $49.81. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

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

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

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is currently 8.65%.

Analyst Upgrades and Downgrades

GM has been the subject of several research reports. Cowen began coverage on shares of General Motors in a research note on Thursday, March 6th. They set a "buy" rating for the company. Wall Street Zen downgraded General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada raised their price objective on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, BNP Paribas raised General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors has an average rating of "Hold" and a consensus price target of $54.56.

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.