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

QRG Capital Management Inc. grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 260,407 shares of the auto manufacturer’s stock after buying 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 quarter.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the 4th quarter valued at $25,000. Crews Bank & Trust acquired a new stake in General Motors during the 4th quarter worth $26,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the 3rd quarter worth $27,000. Truvestments Capital LLC acquired a new stake in General Motors during the 3rd quarter worth $27,000. Finally, Compass Planning Associates Inc acquired a new stake in General Motors during the 4th quarter worth $27,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Down 1.6 %

General Motors stock opened at $47.68 on Friday. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market capitalization of $47.44 billion, a P/E ratio of 7.75, a PEG ratio of 0.67 and a beta of 1.40. The stock has a 50-day simple moving average of $50.40 and a 200 day simple moving average of $50.31.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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%. Analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

General Motors announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently commented on GM shares. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Mizuho raised their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and an average price target of $59.71.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

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.