Prospera Financial Services Inc Purchases 5,089 Shares of General Motors (NYSE:GM)

Prospera Financial Services Inc lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 25.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,891 shares of the auto manufacturer’s stock after acquiring an additional 5,089 shares during the period. Prospera Financial Services Inc’s holdings in General Motors were worth $1,116,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in General Motors by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after acquiring an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after buying an additional 1,091,137 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in General Motors by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after buying an additional 421,989 shares during the last quarter. LSV Asset Management boosted its holdings in General Motors by 2.6% in the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after acquiring an additional 223,260 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of General Motors in the first quarter worth $159,750,000. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

GM stock opened at $58.52 on Friday. General Motors has a 52 week low of $27.93 and a 52 week high of $59.39. The firm has a market capitalization of $64.35 billion, a P/E ratio of 6.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company has a fifty day simple moving average of $50.74 and a two-hundred day simple moving average of $47.68. 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 (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping 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 company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business posted $2.28 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. Analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Activity at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,034,351 shares of company stock worth $56,601,268. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of several recent analyst reports. UBS Group lifted their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays upped their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Finally, DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. 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.com, the company 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.