Envestnet Portfolio Solutions Inc. Has $5.76 Million Stock Holdings in General Motors (NYSE:GM)

Envestnet Portfolio Solutions Inc. lowered its position in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,384 shares of the auto manufacturer’s stock after selling 28,496 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in General Motors were worth $5,761,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB increased its holdings in General Motors by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after buying an additional 74,194 shares during the last quarter. Cerity Partners LLC increased its position in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after buying an additional 93,754 shares during the last quarter. Foundry Partners LLC raised its stake in General Motors by 15.0% in the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after buying an additional 51,336 shares during the period. Public Sector Pension Investment Board lifted its position in shares of General Motors by 10.5% in the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock valued at $4,859,000 after buying an additional 14,002 shares during the last quarter. Finally, AM Squared Ltd increased its holdings in shares of General Motors by 195.0% during the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock worth $1,483,000 after acquiring an additional 27,300 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Citigroup increased their target price on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Finally, Royal Bank of Canada raised their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.65.

Get Our Latest Stock Report on General Motors

General Motors Stock Down 0.1 %

Shares of NYSE GM opened at $45.16 on Tuesday. The company has a market cap of $51.53 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 0.53 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The stock has a 50-day moving average price of $43.31 and a two-hundred day moving average price of $37.45.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the company earned $2.21 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that General Motors will post 9.4 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insider Buying and Selling

In other news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerald Johnson sold 15,190 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the sale, the executive vice president now directly owns 98,628 shares in the company, valued at approximately $3,948,078.84. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 in the last 90 days. Insiders own 0.72% of the company’s stock.

About General Motors

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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