The Manufacturers Life Insurance Company Has $44.12 Million Stock Position in General Motors (NYSE:GM)

The Manufacturers Life Insurance Company grew its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 8.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 828,184 shares of the auto manufacturer's stock after acquiring an additional 62,113 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of General Motors worth $44,117,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Trust Point Inc. boosted its position in General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after acquiring an additional 193 shares during the period. Holistic Planning LLC lifted its holdings in General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after purchasing an additional 214 shares during the period. Nemes Rush Group LLC grew its position in General Motors by 18.7% in the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock valued at $73,000 after buying an additional 217 shares in the last quarter. Operose Advisors LLC increased its stake in General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock valued at $75,000 after buying an additional 223 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after buying an additional 226 shares in the last quarter. Institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GM. Cowen initiated coverage on General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. Citigroup assumed coverage on General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective on the stock. StockNews.com cut General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a report on Monday, April 14th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $53.94.

General Motors Stock Up 0.5 %

Shares of NYSE GM traded up $0.22 during mid-day trading on Friday, reaching $45.27. The company had a trading volume of 11,644,783 shares, compared to its average volume of 13,426,276. The stock has a fifty day moving average of $46.76 and a two-hundred day moving average of $50.24. 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 $43.74 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.67 and a beta of 1.27. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating 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 company had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. During the same quarter last year, the business posted $2.62 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.33%. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is 7.80%.

General Motors announced that its board has authorized a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback programs are generally a sign 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.