Mercer Global Advisors Inc. ADV Purchases 17,159 Shares of General Motors (NYSE:GM)

Mercer Global Advisors Inc. ADV raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 14.6% during the second quarter, Holdings Channel.com reports. The fund owned 134,537 shares of the auto manufacturer’s stock after purchasing an additional 17,159 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in General Motors were worth $6,251,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lumbard & Kellner LLC purchased a new position in shares of General Motors during the second quarter valued at approximately $230,000. Peregrine Asset Advisers Inc. bought a new position in General Motors in the 2nd quarter worth $3,526,000. Lmcg Investments LLC lifted its position in shares of General Motors by 2.8% in the 2nd quarter. Lmcg Investments LLC now owns 206,313 shares of the auto manufacturer’s stock worth $9,585,000 after purchasing an additional 5,649 shares during the period. Donald Smith & CO. Inc. boosted its stake in shares of General Motors by 1.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,453,713 shares of the auto manufacturer’s stock valued at $67,540,000 after purchasing an additional 26,172 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of General Motors during the second quarter valued at about $231,000. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 0.5 %

GM stock opened at $48.88 on Friday. The stock has a market capitalization of $55.77 billion, a P/E ratio of 5.98, a P/E/G ratio of 0.52 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The business has a fifty day moving average price of $46.28 and a 200-day moving average price of $45.23.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.91 EPS. Equities analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

GM has been the topic of several research reports. Wells Fargo & Company cut their price objective on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. Wolfe Research began coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Wedbush reaffirmed an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and an average target price of $55.27.

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.