New Century Financial Group LLC Purchases 663 Shares of General Motors (NYSE:GM)

New Century Financial Group LLC increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,800 shares of the auto manufacturer’s stock after buying an additional 663 shares during the quarter. New Century Financial Group LLC’s holdings in General Motors were worth $989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Direct Indexing L.P. grew its stake in General Motors by 46.3% during the first quarter. First Trust Direct Indexing L.P. now owns 28,753 shares of the auto manufacturer’s stock worth $1,304,000 after buying an additional 9,099 shares during the last quarter. Norden Group LLC bought a new stake in General Motors during the 1st quarter worth approximately $493,000. Denali Advisors LLC increased its holdings in General Motors by 6.5% during the 1st quarter. Denali Advisors LLC now owns 18,100 shares of the auto manufacturer’s stock valued at $821,000 after purchasing an additional 1,100 shares in the last quarter. Quattro Financial Advisors LLC raised its position in General Motors by 49,900.0% in the 1st quarter. Quattro Financial Advisors LLC now owns 18,000 shares of the auto manufacturer’s stock valued at $816,000 after purchasing an additional 17,964 shares during the last quarter. Finally, MV Capital Management Inc. grew its holdings in shares of General Motors by 35.3% during the first quarter. MV Capital Management Inc. now owns 1,101 shares of the auto manufacturer’s stock worth $50,000 after purchasing an additional 287 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the transaction, the chief executive officer now owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Insiders have sold a total of 1,152,621 shares of company stock worth $51,818,111 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GM. Barclays upped their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Piper Sandler raised their price target on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Bank of America reissued a “buy” rating and issued a $75.00 price target on shares of General Motors in a research note on Wednesday, June 12th. StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. Finally, TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $54.91.

General Motors Stock Down 0.5 %

Shares of NYSE:GM traded down $0.24 during trading on Thursday, hitting $46.71. 5,440,684 shares of the company were exchanged, compared to its average volume of 15,277,179. The stock has a market cap of $53.29 billion, a price-to-earnings ratio of 5.71, a P/E/G ratio of 0.50 and a beta of 1.43. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The firm has a fifty day moving average price of $45.74 and a two-hundred day moving average price of $41.64.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter last year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that General Motors will post 9.43 earnings per share for the current fiscal year.

General Motors announced that its board has authorized a stock buyback program on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were paid a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

General Motors 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.