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

QRG Capital Management Inc. raised its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 40.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 364,840 shares of the auto manufacturer's stock after purchasing an additional 104,433 shares during the period. QRG Capital Management Inc.'s holdings in General Motors were worth $17,158,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sagespring Wealth Partners LLC grew its position in shares of General Motors by 11.2% during the first quarter. Sagespring Wealth Partners LLC now owns 10,170 shares of the auto manufacturer's stock worth $478,000 after acquiring an additional 1,028 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of General Motors during the first quarter worth approximately $312,000. Janney Montgomery Scott LLC grew its position in shares of General Motors by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 402,861 shares of the auto manufacturer's stock worth $18,947,000 after acquiring an additional 8,026 shares during the last quarter. Mission Wealth Management LP grew its position in shares of General Motors by 22.6% during the first quarter. Mission Wealth Management LP now owns 6,240 shares of the auto manufacturer's stock worth $293,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Howard Bailey Securities LLC grew its position in shares of General Motors by 12.9% during the first quarter. Howard Bailey Securities LLC now owns 6,270 shares of the auto manufacturer's stock worth $295,000 after acquiring an additional 717 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective on the stock. Barclays lifted their price target on General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Royal Bank of Canada lifted their price target on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Citigroup assumed coverage on shares of General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 target price for the company. Finally, Mizuho upped their price objective on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $53.35.

General Motors Trading Up 1.2%

NYSE GM opened at $49.24 on Tuesday. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market capitalization of $47.34 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The company's fifty day moving average price is $47.35 and its two-hundred day moving average price is $48.97.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.62 earnings per share. As a group, research analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. General Motors's dividend payout ratio is 8.65%.

General Motors announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

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.

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