75,888 Shares in General Motors (NYSE:GM) Acquired by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 75,888 shares of the auto manufacturer’s stock, valued at approximately $3,526,000. General Motors accounts for 1.4% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GM. SJS Investment Consulting Inc. lifted its holdings in General Motors by 34.5% during the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after buying an additional 203 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after purchasing an additional 227 shares during the period. Institute for Wealth Management LLC. grew its stake in General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after purchasing an additional 230 shares in the last quarter. Finally, Beech Hill Advisors Inc. raised its position in General Motors by 1.6% in the 2nd quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock valued at $708,000 after purchasing an additional 233 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of NYSE:GM opened at $46.87 on Tuesday. The firm has a market capitalization of $53.48 billion, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The business’s 50 day simple moving average is $46.20 and its 200-day simple moving average is $45.08. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same period last year, the firm posted $1.91 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has initiated a share buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 1.02%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insiders Place Their Bets

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GM. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Royal Bank of Canada cut their price objective on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company decreased their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Finally, Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $55.27.

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.