Richelieu Gestion SA Increases Position in General Motors (NYSE:GM)

Richelieu Gestion SA increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 40.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,981 shares of the auto manufacturer’s stock after acquiring an additional 31,893 shares during the period. General Motors comprises about 5.2% of Richelieu Gestion SA’s holdings, making the stock its 4th largest holding. Richelieu Gestion SA’s holdings in General Motors were worth $5,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado boosted its holdings in shares of General Motors by 1,213.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares during the period. Handelsbanken Fonder AB lifted its holdings in General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after buying an additional 74,194 shares during the period. US Bancorp DE grew its position in shares of General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after buying an additional 32,331 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of General Motors by 317.6% during the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after buying an additional 51,571 shares during the period. Finally, Cerity Partners LLC lifted its stake in General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after acquiring an additional 93,754 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Down 1.6 %

Shares of GM traded down $0.74 on Wednesday, hitting $45.67. 7,027,370 shares of the stock traded hands, compared to its average volume of 16,193,813. The company has a market capitalization of $52.11 billion, a PE ratio of 5.59, a P/E/G ratio of 0.49 and a beta of 1.46. General Motors has a one year low of $26.30 and a one year high of $49.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The business has a 50 day simple moving average of $45.39 and a 200 day simple moving average of $41.20.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the company earned $2.21 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that General Motors will post 9.43 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were paid a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s dividend payout ratio is presently 5.87%.

General Motors announced that its Board of Directors has approved a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Insiders sold 1,183,243 shares of company stock valued at $53,203,153 over the last three months. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GM. Citigroup boosted their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada increased their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Wells Fargo & Company lifted their price objective on General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday. UBS Group upped their target price on General Motors from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors has an average rating of “Moderate Buy” and an average target price of $54.91.

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.