Convergence Investment Partners LLC Makes New Investment in General Motors (NYSE:GM)

Convergence Investment Partners LLC bought a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,029 shares of the auto manufacturer’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after purchasing an additional 4,275,293 shares in the last quarter. AQR Capital Management LLC lifted its stake in General Motors by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after purchasing an additional 2,049,412 shares in the last quarter. Vanguard Group Inc. lifted its stake in General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in General Motors by 518.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,274,574 shares of the auto manufacturer’s stock worth $42,023,000 after purchasing an additional 1,068,474 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in General Motors by 175.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,615,483 shares of the auto manufacturer’s stock worth $53,262,000 after purchasing an additional 1,028,508 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Trading Up 0.5 %

Shares of NYSE GM opened at $45.84 on Monday. General Motors has a 1 year low of $26.30 and a 1 year high of $46.17. The stock has a market cap of $52.30 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 0.54 and a beta of 1.51. The firm has a 50-day moving average of $42.27 and a 200 day moving average of $36.36. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the company posted $2.21 EPS. General Motors’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GM. Mizuho increased their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Sanford C. Bernstein began coverage on shares of General Motors in a research report on Thursday. They set an “outperform” rating and a $55.00 price objective on the stock. Piper Sandler raised their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Redburn Atlantic began coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.65.

Insiders Place Their Bets

In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gerald Johnson sold 15,190 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the sale, the executive vice president now owns 98,628 shares of the company’s stock, valued at $3,948,078.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

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.