QRG Capital Management Inc. Boosts Holdings in General Motors (NYSE:GM)

QRG Capital Management Inc. lifted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 9.2% in the 2nd quarter, HoldingsChannel reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado grew its holdings in General Motors by 1,213.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after purchasing an additional 2,035,925 shares during the period. Handelsbanken Fonder AB lifted its position in shares of General Motors by 18.5% during the 4th 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 grew its stake in shares of General Motors by 59.3% during the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after acquiring an additional 32,331 shares during the period. GSA Capital Partners LLP increased its holdings in General Motors by 317.6% in the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after acquiring an additional 51,571 shares in the last quarter. Finally, Cerity Partners LLC raised 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. 92.67% of the stock is owned by institutional investors.

Insider Transactions at General Motors

In related news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction dated 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 transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the transaction, the president now owns 162,049 shares in the company, valued at $7,455,874.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is currently owned by company insiders.

General Motors Trading Up 1.8 %

GM traded up $0.75 on Friday, hitting $43.48. The company had a trading volume of 14,119,682 shares, compared to its average volume of 16,006,579. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The business’s fifty day simple moving average is $46.18 and its 200 day simple moving average is $43.51. The company has a market cap of $49.61 billion, a PE ratio of 5.32, a PEG ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results 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 firm had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same quarter in the previous year, the business earned $1.91 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that General Motors will post 9.94 EPS for the current year.

General Motors declared that its board has approved a share repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board 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. Stockholders of record on Friday, September 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. General Motors’s dividend payout ratio is 5.87%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America reiterated a “buy” rating and issued a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. Piper Sandler upped their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, UBS Group upped their price target on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.17.

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.