Parallel Advisors LLC Boosts Stock Holdings in General Motors (NYSE:GM)

Parallel Advisors LLC grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 51.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,589 shares of the auto manufacturer’s stock after buying an additional 8,990 shares during the quarter. Parallel Advisors LLC’s holdings in General Motors were worth $1,416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GM. Amundi grew its holdings in shares of General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after buying an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC lifted 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 valued at $394,060,000 after purchasing an additional 2,104,528 shares during the period. Raymond James Financial Inc. bought a new position in General Motors during the fourth quarter valued at approximately $108,366,000. Caisse DE Depot ET Placement DU Quebec lifted its position in General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the period. Finally, Jennison Associates LLC lifted its position in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on GM. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. TD Cowen began coverage on shares of General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.89.

General Motors Stock Performance

Shares of NYSE GM opened at $48.62 on Wednesday. The firm has a fifty day moving average price of $49.07 and a 200-day moving average price of $50.47. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market cap of $48.38 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

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

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.