Centaurus Financial Inc. Has $569,000 Stock 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% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,682 shares of the auto manufacturer’s stock after buying an additional 1,054 shares during the quarter. Centaurus Financial Inc.’s holdings in General Motors were worth $569,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GM. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors during the third quarter valued at $27,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the second quarter worth $28,000. Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in General Motors in the second quarter valued at $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of GM opened at $54.79 on Wednesday. The stock 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. The business’s fifty day moving average is $51.15 and its 200 day moving average is $47.88. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 12-month low of $27.93 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the company earned $2.28 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced 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 is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.88%. General Motors’s dividend payout ratio is presently 5.12%.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,021,556 shares of company stock valued at $55,974,057 over the last 90 days. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GM shares. Sanford C. Bernstein lifted their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised 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. UBS Group upped their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.