Man Group plc Has $116.99 Million Stock Position in General Motors (NYSE:GM)

Man Group plc grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,196,206 shares of the auto manufacturer’s stock after acquiring an additional 544,237 shares during the period. Man Group plc owned 0.22% of General Motors worth $116,992,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Czech National Bank raised its holdings in General Motors by 4.1% during the 4th quarter. Czech National Bank now owns 238,415 shares of the auto manufacturer’s stock valued at $12,700,000 after acquiring an additional 9,461 shares during the period. Wedmont Private Capital lifted its holdings in General Motors by 12.2% in the fourth quarter. Wedmont Private Capital now owns 9,968 shares of the auto manufacturer’s stock worth $497,000 after buying an additional 1,082 shares during the period. Cooper Financial Group increased its position in shares of General Motors by 15.6% during the fourth quarter. Cooper Financial Group now owns 11,967 shares of the auto manufacturer’s stock valued at $637,000 after acquiring an additional 1,615 shares in the last quarter. Miracle Mile Advisors LLC grew its position in General Motors by 113.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 10,459 shares of the auto manufacturer’s stock worth $557,000 after purchasing an additional 5,549 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of General Motors by 23.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 704,922 shares of the auto manufacturer’s stock valued at $37,551,000 after acquiring an additional 135,289 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on shares of General Motors from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Mizuho cut their target price on shares of General Motors from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Wedbush decreased their price target on General Motors from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Cowen assumed coverage on General Motors in a research report on Thursday, March 6th. They issued a “buy” rating on the stock. Finally, UBS Group dropped their price target on General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $54.28.

General Motors Price Performance

Shares of NYSE:GM opened at $50.47 on Wednesday. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The business has a fifty day simple moving average of $46.71 and a 200 day simple moving average of $50.05. 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 $48.52 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 0.67 and a beta of 1.36.

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

General Motors declared that its Board of Directors has approved a stock buyback program 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 programs are typically a sign that the company’s management believes its shares are undervalued.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. General Motors’s dividend payout ratio is presently 8.65%.

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.