Nissay Asset Management Corp Japan ADV Buys 454 Shares of General Motors (NYSE:GM)

Nissay Asset Management Corp Japan ADV lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 143,803 shares of the auto manufacturer’s stock after purchasing an additional 454 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in General Motors were worth $7,806,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of General Motors during the 4th quarter valued at $592,321,000. Amundi increased its holdings in General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC boosted its stake in General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. purchased a new position in shares of General Motors during the fourth quarter worth about $108,366,000. Finally, National Bank of Canada FI grew its stake in General Motors by 54.4% in the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer’s stock worth $178,593,000 after buying an additional 1,180,936 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Down 0.5%

General Motors stock opened at $50.05 on Friday. General Motors has a one year low of $38.96 and a one year high of $61.24. The stock has a market cap of $48.12 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a fifty day moving average of $46.81 and a 200 day moving average of $50.03.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. General Motors’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $2.62 EPS. As a group, sell-side analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

General Motors Increases Dividend

The firm also recently declared 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. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio is presently 8.65%.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research reports. Citigroup began coverage on General Motors in a report on Wednesday, April 23rd. They set a “buy” rating and a $62.00 price objective on the stock. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Wedbush reduced their price target on shares of General Motors from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. Finally, Barclays raised their price objective on General Motors from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $54.28.

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.