General Motors (NYSE:GM) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,950 shares of the auto manufacturer’s stock after selling 7,402 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in General Motors were worth $22,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of General Motors in the fourth quarter valued at approximately $592,321,000. LM Advisors LLC purchased a new stake in General Motors during the 4th quarter worth $228,000. NEOS Investment Management LLC raised its position in shares of General Motors by 31.6% in the 4th quarter. NEOS Investment Management LLC now owns 83,006 shares of the auto manufacturer’s stock valued at $4,422,000 after purchasing an additional 19,911 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in General Motors by 12.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 85,035 shares of the auto manufacturer’s stock worth $4,530,000 after purchasing an additional 9,663 shares in the last quarter. Finally, Sava Infond d.o.o. bought a new stake in General Motors during the fourth quarter valued at $355,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value 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 $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. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

GM has been the topic of several research analyst reports. Cowen began coverage on General Motors in a research report on Thursday, March 6th. They set a “buy” rating on the stock. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. The Goldman Sachs Group set a $73.00 price target on General Motors in a report on Saturday, March 1st. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.11.

General Motors Stock Down 1.2 %

GM opened at $46.65 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The firm’s fifty day moving average is $48.89 and its 200 day moving average is $50.56. The stock has a market cap of $46.42 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, sell-side 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 stock buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s dividend payout ratio is currently 7.80%.

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.