General Motors (NYSE:GM) is Staley Capital Advisers Inc.’s 8th Largest Position

Staley Capital Advisers Inc. cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,327,017 shares of the auto manufacturer’s stock after selling 25,410 shares during the quarter. General Motors makes up about 3.1% of Staley Capital Advisers Inc.’s investment portfolio, making the stock its 8th largest position. Staley Capital Advisers Inc.’s holdings in General Motors were worth $70,690,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GM. Van ECK Associates Corp lifted its stake in General Motors by 6.0% in the third quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer’s stock worth $1,587,000 after acquiring an additional 2,015 shares during the period. Summit Global Investments lifted its stake in General Motors by 81.4% in the third quarter. Summit Global Investments now owns 9,336 shares of the auto manufacturer’s stock worth $419,000 after acquiring an additional 4,188 shares during the period. Capital Performance Advisors LLP bought a new position in General Motors in the third quarter worth about $37,000. CWA Asset Management Group LLC bought a new position in General Motors in the third quarter worth about $235,000. Finally, Verdence Capital Advisors LLC raised its holdings in General Motors by 38.1% in the third quarter. Verdence Capital Advisors LLC now owns 19,497 shares of the auto manufacturer’s stock worth $874,000 after purchasing an additional 5,375 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 1.4 %

Shares of NYSE:GM opened at $48.10 on Tuesday. General Motors has a 1 year low of $38.94 and a 1 year high of $61.24. The firm has a market capitalization of $47.85 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The business’s 50 day moving average price is $49.59 and its 200-day moving average price is $50.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (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, equities research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s payout ratio is currently 7.80%.

General Motors declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on GM. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded shares of 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 report on Tuesday, January 21st. Cowen initiated coverage on shares of General Motors in a report on Thursday. They issued a “buy” rating on the stock. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a report on Saturday, March 1st. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.89.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently 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.