General Motors (GM) Position Raised by American Century Companies Inc.
American Century Companies Inc. boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 40.0% during the third quarter, HoldingsChannel reports. The firm owned 1,207,641 shares of the auto manufacturer’s stock after buying an additional 345,192 shares during the period. American Century Companies Inc.’s holdings in General Motors were worth $40,661,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in GM. Ruffer LLP purchased a new stake in General Motors in the second quarter valued at approximately $120,141,000. Natixis raised its stake in General Motors by 780.3% in the second quarter. Natixis now owns 3,170,930 shares of the auto manufacturer’s stock valued at $124,935,000 after purchasing an additional 2,810,730 shares in the last quarter. Bank of New York Mellon Corp raised its stake in General Motors by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock valued at $565,624,000 after purchasing an additional 2,394,922 shares in the last quarter. ING Groep NV raised its stake in General Motors by 11,572.0% in the second quarter. ING Groep NV now owns 1,635,827 shares of the auto manufacturer’s stock valued at $64,452,000 after purchasing an additional 1,621,812 shares in the last quarter. Finally, Levin Capital Strategies L.P. raised its stake in General Motors by 31.2% in the third quarter. Levin Capital Strategies L.P. now owns 6,670,952 shares of the auto manufacturer’s stock valued at $224,611,000 after purchasing an additional 1,584,628 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE GM opened at $35.93 on Wednesday. General Motors has a one year low of $30.56 and a one year high of $45.52. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The company has a market cap of $50.39 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.68 and a beta of 1.25.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s payout ratio is currently 22.96%.
GM has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price on shares of General Motors in a research note on Wednesday, September 12th. Guggenheim reaffirmed a “buy” rating and issued a $52.00 target price on shares of General Motors in a research note on Friday, July 20th. JPMorgan Chase & Co. lowered their target price on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $39.00 target price on shares of General Motors in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $46.15.
General Motors Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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