Geneos Wealth Management Inc. Purchases 1,494 Shares of General Motors (NYSE:GM)

Geneos Wealth Management Inc. boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 47.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,631 shares of the auto manufacturer’s stock after acquiring an additional 1,494 shares during the period. Geneos Wealth Management Inc.’s holdings in General Motors were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after purchasing an additional 1,580,681 shares in the last quarter. Putnam Investments LLC boosted its position in General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares in the last quarter. Norges Bank acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $602,280,000. Finally, Franklin Resources Inc. lifted its position in shares of General Motors by 12.0% in the fourth quarter. Franklin Resources Inc. now owns 13,731,249 shares of the auto manufacturer’s stock worth $493,226,000 after purchasing an additional 1,472,297 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price for the company. Mizuho lifted their target price on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Citigroup upped their target price on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Barclays raised their price target on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Wedbush upped their price objective on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.96.

General Motors Stock Up 1.1 %

GM opened at $48.45 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The stock has a fifty day moving average of $45.92 and a 200-day moving average of $42.06. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The company has a market capitalization of $55.28 billion, a P/E ratio of 5.85, a P/E/G ratio of 0.49 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts expect that General Motors will post 9.43 EPS for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 0.99%. General Motors’s dividend payout ratio is presently 5.87%.

General Motors declared that its board has initiated a share buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the transaction, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares in the company, valued at approximately $43,431,657.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The disclosure for this sale can be found here. In the last three months, insiders sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is currently owned by company insiders.

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.