Centaurus Financial Inc. Buys 1,769 Shares of General Motors (NYSE:GM)

Centaurus Financial Inc. boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 13.9% during the fourth quarter, HoldingsChannel reports. The firm owned 14,451 shares of the auto manufacturer’s stock after buying an additional 1,769 shares during the period. Centaurus Financial Inc.’s holdings in General Motors were worth $770,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Trust Point Inc. boosted its holdings in shares of General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares in the last quarter. Holistic Planning LLC grew its position in General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after acquiring an additional 214 shares during the last quarter. Nemes Rush Group LLC grew its position in General Motors by 18.7% during the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock valued at $73,000 after acquiring an additional 217 shares during the last quarter. Operose Advisors LLC raised its stake in shares of General Motors by 18.7% during the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer’s stock worth $75,000 after acquiring an additional 223 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of General Motors by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer’s stock worth $2,856,000 after acquiring an additional 226 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

Shares of General Motors stock opened at $48.56 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market cap of $46.69 billion, a PE ratio of 7.90, a P/E/G ratio of 0.67 and a beta of 1.36. The business has a 50 day moving average of $46.86 and a 200 day moving average of $49.74. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.62 earnings per share. As a group, equities research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio is currently 8.65%.

General Motors declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

GM has been the topic of several recent research reports. Royal Bank of Canada increased their target price on shares of General Motors from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Citigroup initiated coverage on General Motors in a research note on Wednesday, April 23rd. They set a “buy” rating and a $62.00 price objective on the stock. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Mizuho raised their price target on General Motors from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, Wedbush decreased their price target on General Motors from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus price target of $54.56.

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.