Nissay Asset Management Corp Japan ADV Has $7.81 Million Stake in General Motors (NYSE:GM)

Nissay Asset Management Corp Japan ADV boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,803 shares of the auto manufacturer’s stock after purchasing an additional 454 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in General Motors were worth $7,806,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. NorthRock Partners LLC grew its stake in shares of General Motors by 80.9% in the 4th quarter. NorthRock Partners LLC now owns 14,233 shares of the auto manufacturer’s stock valued at $758,000 after purchasing an additional 6,367 shares during the period. Occudo Quantitative Strategies LP acquired a new position in General Motors during the 4th quarter worth $1,989,000. Measured Risk Portfolios Inc. acquired a new stake in General Motors in the fourth quarter worth about $27,000. Lazard Asset Management LLC lifted its holdings in General Motors by 11.9% in the fourth quarter. Lazard Asset Management LLC now owns 66,239 shares of the auto manufacturer’s stock valued at $3,527,000 after buying an additional 7,046 shares during the period. Finally, Lighthouse Investment Partners LLC boosted its position in shares of General Motors by 528.6% in the 4th quarter. Lighthouse Investment Partners LLC now owns 440,000 shares of the auto manufacturer’s stock worth $23,439,000 after purchasing an additional 370,000 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 0.5%

Shares of NYSE GM opened at $50.05 on Friday. The company has a market cap of $48.12 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 0.67 and a beta of 1.36. 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 stock has a 50-day moving average price of $46.81 and a two-hundred day moving average price of $50.03. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.62 earnings per share. As a group, analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. General Motors’s dividend payout ratio (DPR) is 8.65%.

Analyst Ratings Changes

GM has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of General Motors from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Piper Sandler boosted their target price on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. BNP Paribas raised General Motors to a “strong-buy” rating in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft cut shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their target price on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and an average target price of $54.28.

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.