KBC Group NV Has $4.75 Million Position in General Motors Company (NYSE:GM)

KBC Group NV lowered its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 43.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 100,889 shares of the auto manufacturer's stock after selling 79,069 shares during the period. KBC Group NV's holdings in General Motors were worth $4,745,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GM. Colonial River Investments LLC raised its stake in shares of General Motors by 7.3% in the first quarter. Colonial River Investments LLC now owns 6,301 shares of the auto manufacturer's stock valued at $296,000 after acquiring an additional 428 shares in the last quarter. Tsfg LLC boosted its position in shares of General Motors by 899.4% during the 1st quarter. Tsfg LLC now owns 1,769 shares of the auto manufacturer's stock worth $83,000 after purchasing an additional 1,592 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of General Motors by 24.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,377,474 shares of the auto manufacturer's stock worth $65,099,000 after buying an additional 273,359 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in General Motors by 11.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 215,873 shares of the auto manufacturer's stock valued at $10,077,000 after purchasing an additional 21,596 shares during the last quarter. Finally, Achmea Investment Management B.V. raised its stake in General Motors by 50.8% during the first quarter. Achmea Investment Management B.V. now owns 488,715 shares of the auto manufacturer's stock worth $22,984,000 after purchasing an additional 164,541 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Price Performance

NYSE:GM traded up $0.23 during mid-day trading on Thursday, reaching $52.91. 6,612,290 shares of the stock were exchanged, compared to its average volume of 12,733,620. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average price of $48.42 and a 200 day moving average price of $48.71. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The firm has a market capitalization of $50.86 billion, a PE ratio of 7.62, a PEG ratio of 1.40 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company had revenue of $44.02 billion for the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter in the previous year, the company posted $2.62 EPS. The business's revenue was up 2.3% compared to the same quarter last year. Research analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.13%. General Motors's payout ratio is 8.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Cowen started coverage on General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. Citigroup began coverage on shares of General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price target for the company. Piper Sandler reiterated a "neutral" rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.