Snider Financial Group Takes Position in General Motors (NYSE:GM)

Snider Financial Group bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,850 shares of the auto manufacturer’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after buying an additional 1,510 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of General Motors by 15.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after purchasing an additional 1,559 shares during the last quarter. Foster & Motley Inc. grew its position in shares of General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after purchasing an additional 25,869 shares during the period. Stoneridge Investment Partners LLC increased its stake in General Motors by 115.1% in the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after purchasing an additional 95,484 shares during the last quarter. Finally, SYM FINANCIAL Corp purchased a new position in General Motors during the fourth quarter worth about $474,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of GM opened at $45.39 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a market cap of $45.17 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 0.67 and a beta of 1.40. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24. The stock has a 50 day moving average of $50.08 and a 200-day moving average of $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors announced that its board has authorized a share repurchase program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

Analyst Upgrades and Downgrades

GM has been the topic of several research analyst reports. Mizuho raised their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group restated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.71.

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.