Rakuten Securities Inc. Buys Shares of 2,125 General Motors (NYSE:GM)

Rakuten Securities Inc. bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,125 shares of the auto manufacturer’s stock, valued at approximately $76,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Penserra Capital Management LLC raised its stake in General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 283 shares during the last quarter. Highlander Capital Management LLC acquired a new stake in General Motors during the 4th quarter worth about $27,000. SouthState Corp raised its position in shares of General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of General Motors during the 4th quarter valued at about $36,000. Finally, BluePath Capital Management LLC bought a new stake in shares of General Motors during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GM. Redburn Atlantic initiated coverage on General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price for the company. Barclays lifted their price objective on shares of General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Royal Bank of Canada increased their target price on shares of General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Wells Fargo & Company upped their price target on General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 31st. Finally, Tigress Financial raised their price objective on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Insider Buying and Selling

In other news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by insiders.

General Motors Stock Down 0.5 %

GM opened at $42.46 on Thursday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The company’s 50-day moving average is $41.50 and its 200 day moving average is $35.68. The firm has a market capitalization of $49.02 billion, a P/E ratio of 5.81, a PEG ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.16 by $0.08. The firm had revenue of $42.98 billion for the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 EPS. Research analysts expect that General Motors will post 9.08 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. General Motors’s payout ratio is presently 6.57%.

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.