Retirement Systems of Alabama Has $70.12 Million Holdings in General Motors (NYSE:GM)

Retirement Systems of Alabama grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 0.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,316,264 shares of the auto manufacturer’s stock after buying an additional 230 shares during the quarter. Retirement Systems of Alabama’s holdings in General Motors were worth $70,117,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in GM. Guidance Capital Inc. increased its position in shares of General Motors by 6.1% during the 4th quarter. Guidance Capital Inc. now owns 21,334 shares of the auto manufacturer’s stock worth $1,150,000 after purchasing an additional 1,227 shares in the last quarter. Cassia Capital Partners LLC acquired a new stake in shares of General Motors during the 4th quarter worth about $611,000. Ninety One SA PTY Ltd increased its position in shares of General Motors by 16.9% during the 4th quarter. Ninety One SA PTY Ltd now owns 110,428 shares of the auto manufacturer’s stock worth $5,882,000 after purchasing an additional 15,925 shares in the last quarter. Ninety One UK Ltd increased its position in shares of General Motors by 38.7% during the 4th quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer’s stock worth $217,855,000 after purchasing an additional 1,140,569 shares in the last quarter. Finally, Dupree Financial Group LLC acquired a new stake in shares of General Motors during the 4th quarter worth about $5,257,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of NYSE:GM opened at $48.64 on Wednesday. The company has a market capitalization of $48.39 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 0.69 and a beta of 1.40. The firm’s 50 day simple moving average is $52.39 and its 200 day simple moving average is $49.94. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a fifty-two week low of $37.60 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, sell-side analysts forecast that General Motors will post 11.41 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s dividend payout ratio is 7.80%.

Insider Activity at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GM. Mizuho increased their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. UBS Group increased their target price on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a report on Friday, October 11th. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.28.

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.