Prospera Financial Services Inc Increases Position in General Motors Company $GM

Prospera Financial Services Inc lifted its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 16.0% in the 2nd quarter, Holdings Channel reports. The firm owned 36,322 shares of the auto manufacturer’s stock after purchasing an additional 5,021 shares during the quarter. Prospera Financial Services Inc’s holdings in General Motors were worth $1,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new stake in shares of General Motors during the 2nd quarter valued at approximately $25,000. GFG Capital LLC purchased a new stake in General Motors during the second quarter worth $27,000. Costello Asset Management INC purchased a new stake in General Motors during the first quarter worth $32,000. RMG Wealth Management LLC acquired a new stake in General Motors in the second quarter valued at $32,000. Finally, WPG Advisers LLC purchased a new position in shares of General Motors in the first quarter valued at $34,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 6,600 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $61.95, for a total transaction of $408,870.00. Following the completion of the sale, the executive vice president owned 8,513 shares of the company’s stock, valued at approximately $527,380.35. This represents a 43.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 260,600 shares of the firm’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the completion of the transaction, the president owned 98,006 shares in the company, valued at $6,512,498.70. The trade was a 72.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,290,340 shares of company stock valued at $137,493,952. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. Mizuho set a $76.00 price objective on shares of General Motors in a research report on Wednesday, October 22nd. Benchmark reaffirmed a “buy” rating on shares of General Motors in a report on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of General Motors in a research report on Tuesday, October 21st. Barclays lifted their price objective on General Motors from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen cut General Motors from a “buy” rating to a “hold” rating in a report on Saturday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

General Motors Price Performance

General Motors stock opened at $71.17 on Wednesday. General Motors Company has a 1 year low of $41.60 and a 1 year high of $71.64. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23. The firm has a 50 day moving average price of $61.81 and a 200 day moving average price of $55.02. The company has a market cap of $66.39 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.96 and a beta of 1.41.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The company had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same quarter last year, the business earned $2.96 EPS. General Motors’s revenue for the quarter was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Sell-side analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s payout ratio is 12.07%.

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.