Scotia Capital Inc. Has $12.72 Million Stock Position in General Motors (NYSE:GM)

Scotia Capital Inc. raised its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,848 shares of the auto manufacturer's stock after acquiring an additional 12,060 shares during the quarter. Scotia Capital Inc.'s holdings in General Motors were worth $12,724,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after buying an additional 1,510 shares during the period. SYM FINANCIAL Corp acquired a new position in shares of General Motors in the fourth quarter valued at $474,000. Asset Management One Co. Ltd. increased its position in General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock worth $25,178,000 after buying an additional 39,474 shares during the period. Avantra Family Wealth Inc. bought a new stake in shares of General Motors in the fourth quarter valued at approximately $1,044,000. Finally, Handelsbanken Fonder AB raised its position 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 buying an additional 19,924 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GM has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Piper Sandler lifted their price target on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Cowen began coverage on General Motors in a research note on Thursday, March 6th. They set a "buy" rating on the stock. Finally, UBS Group reissued a "neutral" rating and issued a $51.00 price objective (down previously from $64.00) on shares of General Motors in a report on Thursday, April 10th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.72.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company's stock.

General Motors Stock Performance

Shares of NYSE GM traded up $0.31 during mid-day trading on Wednesday, hitting $44.85. The company had a trading volume of 3,179,749 shares, compared to its average volume of 13,528,760. 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 has a 12 month low of $38.96 and a 12 month high of $61.24. The firm's 50 day simple moving average is $47.24 and its two-hundred day simple moving average is $50.34. The stock has a market cap of $44.63 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, equities research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's payout ratio is 7.80%.

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