New York Life Investment Management LLC Has $8.08 Million Holdings in General Motors (NYSE:GM)

New York Life Investment Management LLC trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,689 shares of the auto manufacturer’s stock after selling 5,106 shares during the period. New York Life Investment Management LLC’s holdings in General Motors were worth $8,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GM. Geode Capital Management LLC grew its position in General Motors by 0.5% during the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after buying an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after acquiring an additional 989,750 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after purchasing an additional 421,989 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of General Motors by 6.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after purchasing an additional 358,507 shares during the period. Finally, AustralianSuper Pty Ltd raised its stake in shares of General Motors by 35.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock valued at $234,364,000 after purchasing an additional 1,159,958 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

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 acquired at an average cost of $50.66 per share, for a total transaction 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 approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by company insiders.

General Motors Trading Down 1.6 %

Shares of NYSE GM opened at $47.68 on Friday. General Motors has a 1-year low of $38.94 and a 1-year high of $61.24. The company has a 50-day moving average of $50.40 and a two-hundred day moving average of $50.31. The company has a market cap of $47.44 billion, a PE ratio of 7.75, a P/E/G ratio of 0.67 and a beta of 1.40. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping 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 expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GM shares. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Mizuho increased their price target 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. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, General Motors has an average rating of “Hold” and a consensus price target 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.