MetLife Investment Management LLC Has $15.50 Million Stock Holdings in General Motors (NYSE:GM)

MetLife Investment Management LLC lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 290,935 shares of the auto manufacturer’s stock after selling 1,205 shares during the quarter. MetLife Investment Management LLC’s holdings in General Motors were worth $15,498,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors during the 4th quarter valued at $25,000. Crews Bank & Trust acquired a new stake in General Motors during the fourth quarter worth about $26,000. Compass Planning Associates Inc bought a new position in General Motors in the 4th quarter valued at about $27,000. Duncker Streett & Co. Inc. increased its holdings in General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 498 shares during the period. Finally, Whittier Trust Co. raised its position in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 425 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In other 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 bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GM. Piper Sandler boosted their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price objective on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. The Goldman Sachs Group decreased their target price on General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. TD Cowen assumed coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a report on Monday, April 14th. Five research 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. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus price target of $56.72.

General Motors Price Performance

Shares of NYSE GM opened at $44.55 on Monday. The company has a market capitalization of $44.32 billion, a PE ratio of 7.24, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The firm has a fifty day simple moving average of $47.10 and a 200 day simple moving average of $50.37.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data 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%. On average, sell-side analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.08%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

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.