OVERSEA CHINESE BANKING Corp Ltd Raises Stock Position in General Motors (NYSE:GM)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 72,743 shares of the auto manufacturer’s stock after buying an additional 3,016 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Motors were worth $3,880,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GM. Trust Point Inc. grew its position in shares of General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after purchasing an additional 193 shares in the last quarter. Avestar Capital LLC grew its position in shares of General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after purchasing an additional 213 shares in the last quarter. Continuum Advisory LLC grew its position in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after purchasing an additional 213 shares in the last quarter. Holistic Planning LLC grew its position in shares of General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after purchasing an additional 214 shares in the last quarter. Finally, Norden Group LLC grew its position in General Motors by 3.0% in the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock worth $421,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

General Motors stock opened at $49.84 on Thursday. The company has a 50 day moving average price of $49.05 and a 200-day moving average price of $50.47. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a market capitalization of $49.59 billion, a PE ratio of 8.10, a P/E/G ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate 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, equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost 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 in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GM shares. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Mizuho lifted their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Cowen started coverage on General Motors in a research report on Thursday, March 6th. They issued a “buy” rating for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.89.

General Motors Company 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.