General Motors (NYSE:GM) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 179,206 shares of the auto manufacturer’s stock after buying an additional 8,513 shares during the quarter. CIBC Asset Management Inc’s holdings in General Motors were worth $9,546,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GM. Blue Trust Inc. grew its position in shares of General Motors by 204.9% during the third quarter. Blue Trust Inc. now owns 7,654 shares of the auto manufacturer’s stock worth $356,000 after buying an additional 5,144 shares in the last quarter. OLD National Bancorp IN acquired a new stake in shares of General Motors during the third quarter worth approximately $269,000. Brown Lisle Cummings Inc. boosted its holdings in General Motors by 15.4% in the third quarter. Brown Lisle Cummings Inc. now owns 2,827 shares of the auto manufacturer’s stock worth $127,000 after purchasing an additional 377 shares during the period. Foundations Investment Advisors LLC boosted its holdings in General Motors by 2.3% in the third quarter. Foundations Investment Advisors LLC now owns 13,212 shares of the auto manufacturer’s stock worth $592,000 after purchasing an additional 292 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in General Motors by 29.4% in the third quarter. Sequoia Financial Advisors LLC now owns 55,969 shares of the auto manufacturer’s stock worth $2,510,000 after purchasing an additional 12,729 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Sanford C. Bernstein lifted their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their price objective on shares of General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Finally, Barclays boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $59.71.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

Shares of General Motors stock opened at $48.14 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average price is $51.07 and its two-hundred day moving average price is $50.09. General Motors has a 52 week low of $38.13 and a 52 week high of $61.24. The stock has a market cap of $47.89 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, sell-side analysts anticipate that General Motors will post 11.28 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

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.