QRG Capital Management Inc. Buys 14,329 Shares of General Motors (NYSE:GM)

QRG Capital Management Inc. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,068 shares of the auto manufacturer’s stock after acquiring an additional 14,329 shares during the period. QRG Capital Management Inc.’s holdings in General Motors were worth $7,901,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GM. Public Employees Retirement Association of Colorado raised its stake in General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of General Motors by 18.5% in the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after buying an additional 74,194 shares in the last quarter. US Bancorp DE boosted its stake in shares of General Motors by 59.3% in the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after buying an additional 32,331 shares during the period. GSA Capital Partners LLP grew its position in General Motors by 317.6% during the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after buying an additional 51,571 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in General Motors by 361.1% during the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after acquiring an additional 93,754 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In related news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock valued at $51,818,111 over the last 90 days. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 1.8 %

GM traded up $0.75 during midday trading on Friday, hitting $43.48. 14,119,682 shares of the company were exchanged, compared to its average volume of 16,006,579. The firm’s 50 day moving average price is $46.18 and its 200-day moving average price is $43.51. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The firm has a market capitalization of $49.61 billion, a P/E ratio of 5.32, a P/E/G ratio of 0.44 and a beta of 1.43. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that General Motors will post 9.94 EPS for the current fiscal year.

General Motors announced that its board has initiated a stock buyback program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.10%. General Motors’s payout ratio is 5.87%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft increased their target price on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Wells Fargo & Company upped their price target on shares of General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, Barclays upped their target price on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

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.