QRG Capital Management Inc. Has $13.87 Million Holdings in General Motors (NYSE:GM)

QRG Capital Management Inc. increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 260,407 shares of the auto manufacturer’s stock after purchasing an additional 8,780 shares during the period. QRG Capital Management Inc.’s holdings in General Motors were worth $13,872,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. First Command Advisory Services Inc. lifted its position in shares of General Motors by 60.4% during the 4th quarter. First Command Advisory Services Inc. now owns 1,144 shares of the auto manufacturer’s stock worth $61,000 after purchasing an additional 431 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of General Motors by 6,084.7% during the 4th quarter. Proficio Capital Partners LLC now owns 556,192 shares of the auto manufacturer’s stock worth $29,628,000 after purchasing an additional 547,199 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of General Motors by 22.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 18,161 shares of the auto manufacturer’s stock worth $967,000 after purchasing an additional 3,387 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in shares of General Motors by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 538,400 shares of the auto manufacturer’s stock worth $28,681,000 after purchasing an additional 10,500 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in General Motors by 9.4% in the 4th quarter. Lake Street Advisors Group LLC now owns 6,966 shares of the auto manufacturer’s stock valued at $371,000 after acquiring an additional 601 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Down 1.6 %

NYSE GM opened at $47.68 on Friday. The firm has a market cap of $47.44 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. General Motors has a one year low of $38.94 and a one year high of $61.24. The stock’s 50 day simple moving average is $50.40 and its 200 day simple moving average is $50.31. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is 7.80%.

General Motors declared that its board has initiated a stock repurchase program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have commented on GM. UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, General Motors has a consensus rating of “Hold” and an average price target of $59.71.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.72% of the company’s stock.

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.