Catalina Capital Group LLC Purchases Shares of 5,072 General Motors (NYSE:GM)

Catalina Capital Group LLC purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 5,072 shares of the auto manufacturer’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. Alps Advisors Inc. grew its stake in shares of General Motors by 18.9% in the third quarter. Alps Advisors Inc. now owns 10,342 shares of the auto manufacturer’s stock worth $341,000 after acquiring an additional 1,647 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of General Motors by 4.7% in the third quarter. Schroder Investment Management Group now owns 308,351 shares of the auto manufacturer’s stock worth $10,166,000 after acquiring an additional 13,967 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of General Motors by 0.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 108,843 shares of the auto manufacturer’s stock worth $3,589,000 after acquiring an additional 997 shares during the last quarter. Townsquare Capital LLC boosted its stake in General Motors by 2.5% during the third quarter. Townsquare Capital LLC now owns 62,559 shares of the auto manufacturer’s stock worth $2,063,000 after buying an additional 1,517 shares in the last quarter. Finally, Morgan Stanley boosted its stake in General Motors by 1.3% during the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after buying an additional 201,080 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the sale, the president now owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were 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 directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock valued at $51,818,111 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Wells Fargo & Company lifted their price target on shares of General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 25th. Sanford C. Bernstein assumed coverage on shares of General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target on the stock. Mizuho lifted their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Citigroup lifted their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and an average price target of $55.96.

General Motors Price Performance

Shares of General Motors stock traded up $1.16 during trading on Thursday, reaching $47.69. The company’s stock had a trading volume of 4,242,599 shares, compared to its average volume of 15,739,755. The stock has a 50-day moving average price of $45.86 and a two-hundred day moving average price of $42.02. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a one year low of $26.30 and a one year high of $49.35. The stock has a market capitalization of $54.41 billion, a P/E ratio of 5.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results 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 return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the business posted $2.21 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Motors will post 9.43 EPS for the current fiscal year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. General Motors’s dividend payout ratio is currently 5.87%.

About General Motors

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.