Prospera Financial Services Inc Raises Stake in General Motors (NYSE:GM)

Prospera Financial Services Inc increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 25.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,891 shares of the auto manufacturer’s stock after purchasing an additional 5,089 shares during the quarter. Prospera Financial Services Inc’s holdings in General Motors were worth $1,116,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in General Motors in the 3rd quarter valued at about $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the second quarter valued at about $28,000. Fortitude Family Office LLC boosted its position in 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 purchasing an additional 225 shares during the period. Finally, EdgeRock Capital LLC purchased a new position in shares of General Motors in the second quarter worth about $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of General Motors stock opened at $58.52 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 52-week low of $27.93 and a 52-week high of $59.39. The company has a fifty day moving average of $50.74 and a 200-day moving average of $47.68. The stock has a market capitalization of $64.35 billion, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 0.42 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. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the firm earned $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.82%. General Motors’s payout ratio is currently 5.12%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $56.92.

Insider Activity

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, 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 through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,034,351 shares of company stock valued at $56,601,268. 0.72% of the stock is currently owned by company insiders.

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.