Benjamin Edwards Inc. Acquires 332 Shares of General Motors (NYSE:GM)

Benjamin Edwards Inc. grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,752 shares of the auto manufacturer’s stock after acquiring an additional 332 shares during the quarter. Benjamin Edwards Inc.’s holdings in General Motors were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GM. Gryphon Financial Partners LLC bought a new stake in shares of General Motors in the fourth quarter valued at about $335,000. Gladstone Institutional Advisory LLC bought a new stake in General Motors during the fourth quarter worth about $218,000. Quest Partners LLC bought a new stake in General Motors during the fourth quarter worth about $244,000. Assetmark Inc. lifted its position in General Motors by 15.7% during the fourth quarter. Assetmark Inc. now owns 86,819 shares of the auto manufacturer’s stock worth $3,119,000 after purchasing an additional 11,811 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in General Motors by 25.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,708 shares of the auto manufacturer’s stock worth $205,000 after purchasing an additional 1,162 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

General Motors stock opened at $48.88 on Friday. The stock has a market capitalization of $55.77 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 0.52 and a beta of 1.43. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The stock’s 50 day moving average price is $46.28 and its two-hundred day moving average price is $45.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.91 EPS. On average, equities analysts predict that General Motors will post 9.95 earnings per share for the current year.

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

General Motors Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Buying and Selling

In other news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were bought 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 directly owns 261,872 shares in the company, valued at $11,551,173.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors 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 transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on GM. Royal Bank of Canada cut their price objective on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wolfe Research assumed coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of General Motors in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned 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 a consensus rating of “Moderate Buy” and an average price target 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.