Hantz Financial Services Inc. Decreases Stock Position in General Motors (NYSE:GM)

Hantz Financial Services Inc. cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 18.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,324 shares of the auto manufacturer’s stock after selling 54,452 shares during the period. Hantz Financial Services Inc.’s holdings in General Motors were worth $10,597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC lifted its holdings in General Motors by 7.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock worth $322,000 after buying an additional 473 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in General Motors by 35.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 36,493 shares of the auto manufacturer’s stock worth $1,655,000 after purchasing an additional 9,460 shares during the last quarter. LRI Investments LLC acquired a new position in General Motors in the first quarter valued at approximately $34,000. Cetera Investment Advisers increased its stake in General Motors by 98.5% in the first quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after purchasing an additional 164,083 shares during the last quarter. Finally, Cetera Advisors LLC raised its holdings in General Motors by 233.2% during the first quarter. Cetera Advisors LLC now owns 177,567 shares of the auto manufacturer’s stock worth $8,053,000 after purchasing an additional 124,276 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. The trade was a 52.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the business’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 value of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

NYSE GM opened at $55.50 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $51.43 and its two-hundred day moving average is $47.99. General Motors has a 12-month low of $28.33 and a 12-month high of $61.24. The stock has a market capitalization of $61.03 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its 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 for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Analysts Set New Price Targets

Several brokerages recently commented on GM. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted their target price on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Barclays boosted their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.92.

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.