Artemis Investment Management LLP Acquires 139,153 Shares of General Motors (NYSE:GM)

Artemis Investment Management LLP lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 192.7% in the first quarter, Holdings Channel.com reports. The fund owned 211,377 shares of the auto manufacturer’s stock after purchasing an additional 139,153 shares during the period. Artemis Investment Management LLP’s holdings in General Motors were worth $9,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado lifted its position in shares of General Motors by 1,213.0% in the 4th 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 fourth 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 boosted its position in General Motors by 59.3% during the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after acquiring an additional 32,331 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of General Motors by 317.6% during the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after acquiring an additional 51,571 shares during the period. Finally, Cerity Partners LLC raised its position in shares of General Motors by 361.1% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM opened at $46.45 on Friday. The firm’s 50-day moving average price is $45.60 and its 200-day moving average price is $41.35. General Motors has a 52-week low of $26.30 and a 52-week high of $49.35. The company has a market cap of $52.99 billion, a PE ratio of 5.68, a PEG ratio of 0.48 and a beta of 1.46. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

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

General Motors announced that its board has approved a share repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction dated 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 sale, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Mark L. Reuss sold 150,000 shares of the business’s 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 sale, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the topic of several research reports. Royal Bank of Canada lifted their price target on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. UBS Group upped their target price 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. Citigroup lifted their price target 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. Sanford C. Bernstein began coverage on shares of General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.91.

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.