Wolverine Asset Management LLC Takes Position in General Motors (NYSE:GM)

Wolverine Asset Management LLC purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,000 shares of the auto manufacturer’s stock, valued at approximately $898,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GM. Pacifica Partners Inc. grew its stake in General Motors by 10.1% during the fourth quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock valued at $107,000 after acquiring an additional 301 shares in the last quarter. RWA Wealth Partners LLC grew its stake in General Motors by 5.0% during the fourth quarter. RWA Wealth Partners LLC now owns 6,740 shares of the auto manufacturer’s stock valued at $242,000 after acquiring an additional 319 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in General Motors by 6.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,481 shares of the auto manufacturer’s stock valued at $233,000 after acquiring an additional 404 shares in the last quarter. CX Institutional grew its stake in General Motors by 4.2% during the third quarter. CX Institutional now owns 10,675 shares of the auto manufacturer’s stock valued at $352,000 after acquiring an additional 431 shares in the last quarter. Finally, Graypoint LLC grew its stake in General Motors by 2.8% during the fourth quarter. Graypoint LLC now owns 16,397 shares of the auto manufacturer’s stock valued at $589,000 after acquiring an additional 447 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on GM. Barclays boosted their price objective on shares of General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. UBS Group boosted their price target on shares of General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada boosted their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Wedbush boosted their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.38.

General Motors Trading Up 1.2 %

NYSE:GM opened at $45.62 on Friday. The company has a fifty day moving average of $42.13 and a 200 day moving average of $36.19. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $52.05 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 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 company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period in the prior year, the business posted $2.21 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict that General Motors will post 9.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

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.