QRG Capital Management Inc. Buys 8,780 Shares of General Motors (NYSE:GM)

QRG Capital Management Inc. raised its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,407 shares of the auto manufacturer's stock after acquiring an additional 8,780 shares during the quarter. QRG Capital Management Inc.'s holdings in General Motors were worth $13,872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GM. Caisse DE Depot ET Placement DU Quebec lifted its stake in General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer's stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the last quarter. Jennison Associates LLC lifted its position in shares of General Motors by 123.1% during the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock valued at $144,655,000 after buying an additional 1,779,897 shares during the last quarter. National Bank of Canada FI grew its stake in shares of General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer's stock worth $97,374,000 after acquiring an additional 1,332,450 shares during the period. AustralianSuper Pty Ltd increased its holdings in General Motors by 35.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer's stock worth $234,364,000 after acquiring an additional 1,159,958 shares during the last quarter. Finally, Ninety One UK Ltd raised its stake in General Motors by 38.7% in the 4th quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer's stock valued at $217,855,000 after acquiring an additional 1,140,569 shares during the period. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

General Motors Price Performance

Shares of General Motors stock traded down $1.76 during trading on Monday, hitting $47.37. 16,721,779 shares of the stock traded hands, compared to its average volume of 11,121,677. The stock has a market cap of $47.13 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 0.67 and a beta of 1.40. The firm's fifty day moving average is $50.34 and its 200-day moving average is $50.45. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

General Motors Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. General Motors's dividend payout ratio is currently 7.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GM shares. StockNews.com downgraded shares of General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Morgan Stanley upgraded shares of General Motors from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a "hold" rating to a "buy" rating and increased their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. HSBC cut General Motors from a "buy" rating to a "hold" rating and set a $58.00 price target for the company. in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $59.71.

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.