Centaurus Financial Inc. Boosts Holdings in General Motors (NYSE:GM)

Centaurus Financial Inc. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,682 shares of the auto manufacturer’s stock after acquiring an additional 1,054 shares during the period. Centaurus Financial Inc.’s holdings in General Motors were worth $569,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its holdings in General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after purchasing an additional 203 shares during the last quarter. Allworth Financial LP lifted its stake in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after buying an additional 205 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the period. SeaCrest Wealth Management LLC grew its stake in General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after buying an additional 227 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its holdings 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 valued at $1,702,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,021,556 shares of company stock valued at $55,974,057. Insiders own 0.72% of the company’s stock.

General Motors Stock Down 9.0 %

Shares of GM opened at $54.79 on Wednesday. General Motors has a 1 year low of $27.93 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $51.15 and a two-hundred day simple moving average of $47.88. The firm has a market cap of $60.24 billion, a P/E ratio of 5.84, a P/E/G ratio of 0.44 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. On average, analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.88%. General Motors’s dividend payout ratio is currently 5.12%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GM shares. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Motors currently has an average rating of “Hold” and an average price target of $56.92.

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.