General Motors (NYSE:GM) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 40.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 364,840 shares of the auto manufacturer’s stock after acquiring an additional 104,433 shares during the period. QRG Capital Management Inc.’s holdings in General Motors were worth $17,158,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new stake in shares of General Motors in the 4th quarter worth about $27,000. Duncker Streett & Co. Inc. increased its holdings in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 498 shares during the period. Whittier Trust Co. increased its holdings in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 425 shares during the period. Measured Risk Portfolios Inc. bought a new position in General Motors in the 4th quarter valued at about $27,000. Finally, Transce3nd LLC bought a new position in General Motors in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM opened at $49.24 on Tuesday. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a 50-day moving average of $47.35 and a two-hundred day moving average of $48.97. The stock has a market cap of $47.34 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 0.67 and a beta of 1.34. 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 announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company posted $2.62 earnings per share. On average, equities research analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. General Motors’s dividend payout ratio is 8.65%.

General Motors announced that its board has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GM shares. Citigroup started coverage on shares of General Motors in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a research report on Monday, April 14th. BNP Paribas upgraded shares of General Motors to a “strong-buy” rating in a research report on Monday, May 5th. The Goldman Sachs Group decreased their target price on shares of General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, UBS Group decreased their target price on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.35.

About General Motors

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.