Park Avenue Securities LLC Grows Position in General Motors (NYSE:GM)

Park Avenue Securities LLC raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 16.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,293 shares of the auto manufacturer’s stock after buying an additional 4,185 shares during the quarter. Park Avenue Securities LLC’s holdings in General Motors were worth $1,328,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Public Employees Retirement Association of Colorado lifted its position in General Motors by 1,213.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after buying an additional 2,035,925 shares during the last quarter. Handelsbanken Fonder AB lifted its position in General Motors by 18.5% in the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after buying an additional 74,194 shares during the last quarter. US Bancorp DE lifted its position in General Motors by 59.3% in the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after buying an additional 32,331 shares during the last quarter. GSA Capital Partners LLP lifted its position in General Motors by 317.6% in 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 last quarter. Finally, Cerity Partners LLC lifted its position in General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,183,243 shares of company stock worth $53,203,153. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of General Motors stock opened at $48.09 on Tuesday. The firm has a market capitalization of $54.87 billion, a P/E ratio of 5.88, a P/E/G ratio of 0.55 and a beta of 1.46. General Motors has a 52 week low of $26.30 and a 52 week high of $49.35. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $45.31 and its two-hundred day moving average is $41.11.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. Research analysts forecast that General Motors will post 9.44 EPS for the current fiscal year.

General Motors declared that its board has authorized a share repurchase plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho upped their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their price target on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 24th. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. UBS Group increased their price target on shares of General Motors from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Piper Sandler increased their price target on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and a consensus target price of $54.81.

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.