Allstate Corp Purchases 37,229 Shares of General Motors Company $GM

Allstate Corp lifted its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 103.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 73,140 shares of the auto manufacturer’s stock after acquiring an additional 37,229 shares during the period. Allstate Corp’s holdings in General Motors were worth $5,948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in shares of General Motors in the fourth quarter worth approximately $25,000. Elevation Wealth Partners LLC lifted its stake in shares of General Motors by 500.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 330 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 275 shares in the last quarter. Kelleher Financial Advisors bought a new position in shares of General Motors in the third quarter worth approximately $29,000. Founders Capital Management bought a new position in shares of General Motors in the fourth quarter worth approximately $31,000. Finally, JPL Wealth Management LLC bought a new position in shares of General Motors in the third quarter worth approximately $32,000. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 1.4%

Shares of GM stock opened at $79.92 on Wednesday. General Motors Company has a 12 month low of $46.81 and a 12 month high of $87.62. The stock has a market cap of $72.06 billion, a P/E ratio of 32.23, a P/E/G ratio of 0.40 and a beta of 1.29. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.41. The company has a 50 day simple moving average of $76.30 and a two-hundred day simple moving average of $77.83.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 28th. The auto manufacturer reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $1.09. The business had revenue of $43.62 billion during the quarter, compared to analysts’ expectations of $43.51 billion. General Motors had a net margin of 1.38% and a return on equity of 16.68%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $2.78 earnings per share. General Motors has set its FY 2026 guidance at 10.620-12.620 EPS. On average, research analysts expect that General Motors Company will post 12.85 earnings per share for the current year.

General Motors declared that its Board of Directors has approved a share buyback plan on Tuesday, January 27th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, June 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. General Motors’s dividend payout ratio is currently 29.03%.

Wall Street Analyst Weigh In

GM has been the topic of several analyst reports. TD Cowen upped their target price on shares of General Motors from $122.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Citigroup upped their target price on shares of General Motors from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Bank of America initiated coverage on shares of General Motors in a report on Wednesday, March 4th. They set a “buy” rating and a $105.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and set a $100.00 price objective on shares of General Motors in a report on Wednesday, January 28th. Finally, Evercore reissued an “outperform” rating and set a $100.00 price objective on shares of General Motors in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.65.

About General Motors

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.