Stifel Financial Corp Grows Stake in General Motors (NYSE:GM)

Stifel Financial Corp lifted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 624,290 shares of the auto manufacturer’s stock after purchasing an additional 35,404 shares during the quarter. Stifel Financial Corp owned 0.06% of General Motors worth $33,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GM. Virtu Financial LLC raised its stake in shares of General Motors by 770.3% in the third quarter. Virtu Financial LLC now owns 99,054 shares of the auto manufacturer’s stock worth $4,442,000 after purchasing an additional 87,672 shares during the last quarter. Te Ahumairangi Investment Management Ltd increased its holdings in General Motors by 6.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 100,708 shares of the auto manufacturer’s stock worth $4,490,000 after buying an additional 6,200 shares in the last quarter. World Investment Advisors LLC bought a new position in General Motors during the 3rd quarter valued at about $237,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of General Motors during the 3rd quarter valued at about $1,907,000. Finally, Tidal Investments LLC grew its stake in shares of General Motors by 44.7% in the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer’s stock worth $2,932,000 after acquiring an additional 20,206 shares during the period. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several research reports. The Goldman Sachs Group dropped their target price on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Monday, April 14th. UBS Group reissued a “neutral” rating and issued a $51.00 target price (down from $64.00) on shares of General Motors in a research report on Thursday, April 10th. Finally, Piper Sandler increased their price objective on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, General Motors currently has an average rating of “Hold” and a consensus target price of $54.83.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were 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. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $45.84 on Thursday. The stock has a 50-day moving average price of $46.92 and a 200 day moving average price of $50.29. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The stock has a market capitalization of $45.61 billion, a P/E ratio of 7.45, a P/E/G ratio of 0.67 and a beta of 1.27.

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

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s payout ratio is 7.80%.

General Motors declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.