General Motors Company (NYSE:GM) Shares Acquired by Cassia Capital Partners LLC

Cassia Capital Partners LLC lifted its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 63.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,683 shares of the auto manufacturer’s stock after acquiring an additional 7,221 shares during the period. Cassia Capital Partners LLC’s holdings in General Motors were worth $879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. Norges Bank acquired a new position in General Motors during the fourth quarter worth approximately $592,321,000. Assenagon Asset Management S.A. increased its position in General Motors by 305.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock worth $134,457,000 after buying an additional 2,154,037 shares during the period. Amundi increased its position in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after buying an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC increased its position 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 worth $394,060,000 after buying an additional 2,104,528 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in General Motors during the fourth quarter worth approximately $108,366,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 0.0%

Shares of GM stock opened at $48.10 on Friday. The business’s fifty day moving average price is $47.62 and its 200 day moving average price is $48.85. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The firm has a market capitalization of $46.24 billion, a PE ratio of 6.93, a P/E/G ratio of 1.29 and a beta of 1.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The firm had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the prior year, the company posted $2.62 earnings per share. General Motors’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was 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 currently 8.65%.

General Motors announced that its board has approved a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on GM shares. Barclays lifted their price target on General Motors from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Mizuho lifted their price target on General Motors from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Sanford C. Bernstein set a $36.00 target price on General Motors in a research note on Monday, May 5th. JPMorgan Chase & Co. lowered their target price on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $48.00 target price (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $53.35.

General Motors 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.