Plan Group Financial LLC Buys Shares of 7,874 General Motors (NYSE:GM)

Plan Group Financial LLC bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,874 shares of the auto manufacturer’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ACR Alpine Capital Research LLC grew its position in General Motors by 8.4% in the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after acquiring an additional 492,693 shares during the last quarter. BDF Gestion bought a new stake in shares of General Motors during the second quarter worth about $2,886,000. Atomi Financial Group Inc. bought a new stake in shares of General Motors during the first quarter worth about $244,000. Cetera Investment Advisers grew its holdings in shares of General Motors by 98.5% during the first quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock worth $14,993,000 after purchasing an additional 164,083 shares during the last quarter. Finally, Susquehanna International Group Ltd. bought a new stake in shares of General Motors during the second quarter worth about $636,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wolfe Research assumed coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 target price on shares of General Motors in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.35.

General Motors Price Performance

Shares of NYSE:GM opened at $53.44 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $47.33 and its two-hundred day simple moving average is $46.04. General Motors has a 1-year low of $26.30 and a 1-year high of $54.17. The stock has a market cap of $60.97 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

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 for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the business earned $2.28 EPS. The business’s revenue was up 10.5% on a year-over-year basis. As a group, analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The firm 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 0.90%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.