Meeder Asset Management Inc. Grows Stock Position in General Motors (NYSE:GM)

Meeder Asset Management Inc. lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 633.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 94,810 shares of the auto manufacturer’s stock after acquiring an additional 81,890 shares during the period. Meeder Asset Management Inc.’s holdings in General Motors were worth $5,051,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of General Motors by 19.7% during the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after purchasing an additional 1,510 shares during the period. SYM FINANCIAL Corp acquired a new stake in General Motors during the 4th quarter valued at approximately $474,000. Asset Management One Co. Ltd. boosted its holdings in shares of General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after acquiring an additional 39,474 shares during the last quarter. Avantra Family Wealth Inc. purchased a new position in shares of General Motors during the fourth quarter worth $1,044,000. Finally, Handelsbanken Fonder AB lifted its position in General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after purchasing an additional 19,924 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of a number of recent research reports. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. TD Cowen assumed coverage on General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 price target for the company. The Goldman Sachs Group set a $73.00 price objective on General Motors in a research report on Saturday, March 1st. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, General Motors has an average rating of “Hold” and an average price target of $62.11.

General Motors Trading Down 1.2 %

Shares of GM stock opened at $46.65 on Monday. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The firm has a market capitalization of $46.42 billion, a P/E ratio of 7.59, a PEG ratio of 0.67 and a beta of 1.42. The stock’s fifty day moving average is $48.89 and its two-hundred day moving average is $50.61. 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 (NYSE:GM) (TSE:GMM.U) last released 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%. Research analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

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

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.