Lansforsakringar Fondforvaltning AB publ Buys New Holdings in General Motors (NYSE:GM)

Lansforsakringar Fondforvaltning AB publ bought a new position in General Motors (NYSE:GM - Free Report) TSE: GMM.U during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 484,771 shares of the auto manufacturer's stock, valued at approximately $25,824,000.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of General Motors in the fourth quarter worth $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors during the fourth quarter valued at $26,000. Measured Risk Portfolios Inc. purchased a new stake in shares of General Motors during the fourth quarter valued at $27,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors during the fourth quarter valued at $27,000. Finally, Whittier Trust Co. boosted its position in shares of General Motors by 551.9% during 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 last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price objective on General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Wedbush dropped their price objective on General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen cut General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a research report on Monday, April 14th. Finally, Citigroup initiated coverage on General Motors in a report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, General Motors presently has a consensus rating of "Hold" and an average target price of $54.56.

General Motors Stock Performance

Shares of NYSE GM traded up $0.99 during trading on Friday, hitting $49.58. The company had a trading volume of 17,702,817 shares, compared to its average volume of 13,240,778. The stock has a 50 day simple moving average of $46.80 and a 200 day simple moving average of $49.57. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The firm has a market capitalization of $47.67 billion, a P/E ratio of 8.06, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36.

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, topping the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter last year, the company earned $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 anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, June 6th. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio (DPR) is 8.65%.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management 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.