Mercer Global Advisors Inc. ADV Sells 6,979 Shares of General Motors (NYSE:GM)

Mercer Global Advisors Inc. ADV reduced its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 137,181 shares of the auto manufacturer's stock after selling 6,979 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in General Motors were worth $7,308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GM. Rehmann Capital Advisory Group purchased a new position in shares of General Motors in the 4th quarter worth approximately $218,000. Schonfeld Strategic Advisors LLC boosted its stake in General Motors by 202.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 723,139 shares of the auto manufacturer's stock worth $38,522,000 after buying an additional 483,987 shares during the period. AQR Capital Management LLC boosted its stake in General Motors by 0.4% during the fourth quarter. AQR Capital Management LLC now owns 5,457,515 shares of the auto manufacturer's stock worth $290,722,000 after buying an additional 19,174 shares during the period. Northern Trust Corp increased its position in General Motors by 8.1% during the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after acquiring an additional 822,454 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of General Motors by 8.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 828,184 shares of the auto manufacturer's stock worth $44,117,000 after acquiring an additional 62,113 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

GM opened at $45.27 on Friday. The firm has a market capitalization of $43.74 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. 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's 50-day moving average is $46.76 and its two-hundred day moving average is $50.24. 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 issued its quarterly earnings data 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. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter in the previous year, the firm earned $2.62 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has initiated a stock buyback 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 purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

General Motors Increases Dividend

The firm also recently disclosed 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. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, June 6th. This is a positive change from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is currently 7.80%.

Analyst Ratings Changes

GM has been the topic of several research analyst reports. Piper Sandler upped their price objective on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Mizuho reduced their price target on shares of General Motors from $55.00 to $53.00 and set an "outperform" rating on the stock in a research note on Friday. Citigroup assumed coverage on shares of General Motors in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective for the company. Sanford C. Bernstein downgraded shares of General Motors from a "market perform" rating to an "underperform" rating and dropped their target price for the stock from $50.00 to $35.00 in a research note on Monday, April 7th. Finally, The Goldman Sachs Group decreased their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, General Motors currently has a consensus rating of "Hold" and an average price target of $53.94.

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.

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