New Century Financial Group LLC Decreases Position in General Motors (NYSE:GM)

New Century Financial Group LLC trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 29.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,300 shares of the auto manufacturer’s stock after selling 3,008 shares during the period. New Century Financial Group LLC’s holdings in General Motors were worth $378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors during the 2nd quarter valued at $25,000. Sugar Maple Asset Management LLC bought a new position in shares of General Motors during the fourth quarter valued at about $31,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors during the third quarter worth about $27,000. Truvestments Capital LLC bought a new stake in shares of General Motors in the third quarter worth about $27,000. Finally, Eastern Bank purchased a new position in General Motors during the 3rd quarter valued at about $34,000. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GM shares. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research report on Friday, October 11th. Wells Fargo & Company reduced their price objective on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada raised their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.17.

Insider Activity at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 514,344 shares of company stock valued at $28,977,691 over the last ninety days. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.5 %

Shares of NYSE GM opened at $53.95 on Friday. The firm’s 50 day moving average price is $53.23 and its 200-day moving average price is $49.80. General Motors has a 52-week low of $34.71 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company has a market cap of $59.32 billion, a PE ratio of 5.75, a P/E/G ratio of 0.38 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the business posted $2.28 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Company 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.