35,000 Shares in General Motors (NYSE:GM) Bought by Kazazian Asset Management LLC

Kazazian Asset Management LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 35,000 shares of the auto manufacturer’s stock, valued at approximately $1,864,000. General Motors comprises 1.4% of Kazazian Asset Management LLC’s holdings, making the stock its 18th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Amundi lifted its position in General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC lifted its holdings in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of General Motors in the fourth quarter worth about $108,366,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after buying an additional 1,906,964 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after buying an additional 1,779,897 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

NYSE:GM opened at $48.62 on Wednesday. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market cap of $48.38 billion, a PE ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.42. The stock has a 50 day moving average price of $49.07 and a 200 day moving average price of $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. General Motors’s dividend payout ratio is presently 7.80%.

General Motors announced that its board has initiated a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GM. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their price target for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.89.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

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.