Poinciana Advisors Group LLC Makes New Investment in General Motors Company (NYSE:GM)

Poinciana Advisors Group LLC bought a new position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,099 shares of the auto manufacturer's stock, valued at approximately $334,000.

Several other hedge funds have also modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in General Motors during the fourth quarter valued at approximately $25,404,000. Cassia Capital Partners LLC raised its stake in shares of General Motors by 63.0% during the first quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock valued at $879,000 after purchasing an additional 7,221 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of General Motors during the first quarter valued at approximately $312,000. Olstein Capital Management L.P. raised its stake in shares of General Motors by 18.0% during the first quarter. Olstein Capital Management L.P. now owns 144,000 shares of the auto manufacturer's stock valued at $6,772,000 after purchasing an additional 22,000 shares during the period. Finally, Clarius Group LLC increased its stake in shares of General Motors by 109.7% in the first quarter. Clarius Group LLC now owns 18,311 shares of the auto manufacturer's stock worth $861,000 after buying an additional 9,579 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GM. Mizuho lifted their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Citigroup started coverage on shares of General Motors in a report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective for the company. Wedbush dropped their price target on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Royal Bank Of Canada boosted their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Piper Sandler restated a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $53.35.

General Motors Trading Up 0.7%

Shares of NYSE GM opened at $52.58 on Thursday. The stock has a market cap of $50.55 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 1.40 and a beta of 1.32. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.04 and a current ratio of 1.21. The business has a 50 day simple moving average of $49.00 and a 200 day simple moving average of $48.76. General Motors Company has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The firm 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 14.30% and a net margin of 3.08%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.62 earnings per share. On average, research analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were given a dividend of $0.15 per share. The ex-dividend date was Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is presently 8.65%.

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.

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