Intact Investment Management Inc. Has $3.26 Million Stock Holdings in General Motors (NYSE:GM)

Intact Investment Management Inc. lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 31.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,700 shares of the auto manufacturer’s stock after acquiring an additional 21,800 shares during the period. Intact Investment Management Inc.’s holdings in General Motors were worth $3,258,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. SouthState Corp boosted its position in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the period. Highlander Capital Management LLC bought a new stake in shares of General Motors in the fourth quarter valued at about $27,000. BluePath Capital Management LLC bought a new stake in shares of General Motors in the third quarter valued at about $33,000. Bfsg LLC bought a new stake in shares of General Motors in the fourth quarter valued at about $35,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of General Motors in the fourth quarter valued at about $36,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Up 0.5 %

NYSE:GM traded up $0.22 during trading hours on Friday, hitting $45.84. 12,153,282 shares of the company traded hands, compared to its average volume of 13,652,336. 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’s 50-day simple moving average is $42.27 and its 200-day simple moving average is $36.32. General Motors has a one year low of $26.30 and a one year high of $46.17. The company has a market cap of $52.30 billion, a PE ratio of 5.60, a PEG ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS. Equities analysts predict that General Motors will post 9.45 earnings per share for the current year.

General Motors Dividend Announcement

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

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the business’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 transaction, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GM shares. The Goldman Sachs Group boosted their target price on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Morgan Stanley boosted their price target on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Sanford C. Bernstein initiated coverage on General Motors in a research note on Thursday. They issued an “outperform” rating and a $55.00 price target for the company. Piper Sandler boosted their target price on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.65.

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.