Sovereign Financial Group Inc. Has $258,000 Stock Holdings in General Motors (NYSE:GM)

Sovereign Financial Group Inc. trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,848 shares of the auto manufacturer’s stock after selling 223 shares during the quarter. Sovereign Financial Group Inc.’s holdings in General Motors were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in General Motors during the third quarter worth about $27,000. Truvestments Capital LLC bought a new stake in General Motors during the third quarter worth about $27,000. Eastern Bank acquired a new stake in shares of General Motors during the third quarter worth approximately $34,000. Finally, Fairscale Capital LLC bought a new position in shares of General Motors in the second quarter valued at approximately $36,000. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GM. Wedbush increased their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company decreased their target price on General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, December 16th. The Goldman Sachs Group lifted their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, General Motors presently has an average rating of “Hold” and a consensus target price of $59.58.

Insider Transactions at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock valued at $56,509,286 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

General Motors Trading Up 1.4 %

Shares of NYSE GM opened at $51.65 on Thursday. 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 twelve month low of $34.32 and a twelve month high of $61.24. The company’s fifty day moving average is $53.83 and its 200-day moving average is $49.56. The stock has a market cap of $56.79 billion, a price-to-earnings ratio of 5.51, a P/E/G ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (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 the consensus estimate of $44.67 billion. During the same period in the prior year, the company 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 predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

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.