APG Asset Management N.V. Buys 20,971 Shares of General Motors (NYSE:GM)

APG Asset Management N.V. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.8% in the second quarter, HoldingsChannel.com reports. The firm owned 2,596,840 shares of the auto manufacturer’s stock after buying an additional 20,971 shares during the quarter. APG Asset Management N.V.’s holdings in General Motors were worth $112,572,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GM. Capital World Investors lifted its holdings in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the period. Putnam Investments LLC increased its position in General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after buying an additional 3,247,050 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after purchasing an additional 135,717 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors 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 sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, 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. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.2 %

NYSE GM opened at $45.80 on Friday. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market capitalization of $51.48 billion, a PE ratio of 5.60, a P/E/G ratio of 0.56 and a beta of 1.43. The company has a fifty day moving average of $46.13 and a 200 day moving average of $45.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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 the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.91 earnings per share. Research analysts forecast that General Motors will post 9.95 earnings per share for the current year.

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

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s payout ratio is 5.87%.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent analyst reports. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their target price on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.92.

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.