M&T Bank Corp Purchases 1,932 Shares of General Motors (NYSE:GM)

M&T Bank Corp lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,073 shares of the auto manufacturer’s stock after acquiring an additional 1,932 shares during the quarter. M&T Bank Corp’s holdings in General Motors were worth $3,467,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the fourth quarter valued at about $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the fourth quarter valued at about $26,000. Compass Planning Associates Inc bought a new position in General Motors in the fourth quarter worth about $27,000. Duncker Streett & Co. Inc. raised its holdings in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in General Motors in the fourth quarter worth about $28,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

Shares of NYSE GM opened at $47.39 on Friday. The business’s 50 day moving average price is $49.70 and its 200 day moving average price is $50.47. The firm has a market cap of $47.16 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

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

General Motors announced that its board has approved a stock buyback program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.01%. General Motors’s dividend payout ratio is presently 7.80%.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GM shares. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. TD Cowen started coverage on shares of General Motors in a report on Friday. They issued a “buy” rating and a $105.00 target price for the company. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus price target of $62.22.

General Motors 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.