Sovereign Financial Group Inc. Invests $230,000 in General Motors (NYSE:GM)

Sovereign Financial Group Inc. acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,067 shares of the auto manufacturer’s stock, valued at approximately $230,000.

Several other institutional investors have also added to or reduced their stakes in the business. LPL Financial LLC boosted its stake in General Motors by 9.7% in the 3rd quarter. LPL Financial LLC now owns 557,585 shares of the auto manufacturer’s stock worth $18,384,000 after purchasing an additional 49,419 shares during the period. Cary Street Partners Investment Advisory LLC boosted its position in shares of General Motors by 24.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 5,020 shares of the auto manufacturer’s stock valued at $166,000 after acquiring an additional 990 shares during the period. O Shaughnessy Asset Management LLC grew its stake in General Motors by 8.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 26,676 shares of the auto manufacturer’s stock valued at $880,000 after acquiring an additional 2,033 shares in the last quarter. MQS Management LLC increased its holdings in General Motors by 10.6% during the 3rd quarter. MQS Management LLC now owns 8,208 shares of the auto manufacturer’s stock worth $271,000 after acquiring an additional 787 shares during the period. Finally, Vinva Investment Management Ltd lifted its stake in General Motors by 526.7% in the 3rd quarter. Vinva Investment Management Ltd now owns 37,871 shares of the auto manufacturer’s stock worth $1,256,000 after purchasing an additional 31,828 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other General Motors news, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

Shares of GM stock opened at $45.77 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The stock has a 50 day moving average price of $45.39 and a two-hundred day moving average price of $41.20. The company has a market capitalization of $52.22 billion, a P/E ratio of 5.60, a PEG ratio of 0.49 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the business earned $2.21 EPS. General Motors’s revenue was up 7.6% compared to the same quarter last year. Analysts expect that General Motors will post 9.43 earnings per share for the current year.

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

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GM. Morgan Stanley increased their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Wells Fargo & Company raised their price target on General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a report on Tuesday. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. Wedbush raised their target price on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Barclays lifted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus price target of $54.91.

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.