Daiwa Securities Group Inc. Increases Stake in General Motors (NYSE:GM)

Daiwa Securities Group Inc. grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,769 shares of the auto manufacturer’s stock after purchasing an additional 5,905 shares during the period. Daiwa Securities Group Inc.’s holdings in General Motors were worth $9,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Point Inc. boosted its holdings in General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after buying an additional 193 shares in the last quarter. Avestar Capital LLC increased its holdings in General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after buying an additional 213 shares in the last quarter. Continuum Advisory LLC raised its position in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after acquiring an additional 213 shares during the period. Holistic Planning LLC boosted its stake in shares of General Motors by 3.9% during the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after acquiring an additional 214 shares in the last quarter. Finally, Norden Group LLC grew its position in shares of General Motors by 3.0% during the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock valued at $421,000 after acquiring an additional 229 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GM. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. UBS Group reissued a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a research report on Saturday, March 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.89.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 0.5 %

Shares of NYSE:GM opened at $48.32 on Wednesday. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The stock has a market cap of $48.08 billion, a P/E ratio of 7.86, a PEG ratio of 0.67 and a beta of 1.42. The business has a fifty day moving average of $49.49 and a two-hundred day moving average of $50.51. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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%. On average, research analysts expect that General Motors will post 11.44 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. Stockholders of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is presently 7.80%.

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

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.