Prudential PLC Has $3.44 Million Holdings in General Motors (NYSE:GM)

Prudential PLC decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,568 shares of the auto manufacturer’s stock after selling 7,169 shares during the period. Prudential PLC’s holdings in General Motors were worth $3,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock valued at $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of General Motors by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after purchasing an additional 176,436 shares during the last quarter. Norges Bank acquired a new stake in shares of General Motors in the fourth quarter valued at $592,321,000. ACR Alpine Capital Research LLC raised its holdings in shares of General Motors by 39.8% in the fourth 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 last quarter. Finally, 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 buying an additional 2,113,973 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

GM opened at $44.22 on Friday. The company has a fifty day simple moving average of $48.22 and a 200 day simple moving average of $50.57. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market cap of $44.00 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.67 and a beta of 1.27. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business 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. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research analyst reports. Cowen began coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a “buy” rating for the company. JPMorgan Chase & Co. dropped their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. The Goldman Sachs Group set a $73.00 price objective on General Motors in a research report on Saturday, March 1st. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Finally, TD Cowen started coverage on General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price target on the stock. Three 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.11.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

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.