Envestnet Portfolio Solutions Inc. Sells 34,454 Shares of General Motors (NYSE:GM)

Envestnet Portfolio Solutions Inc. trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 43.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,696 shares of the auto manufacturer’s stock after selling 34,454 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in General Motors were worth $2,434,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Amundi boosted its stake in General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in General Motors by 39.8% in the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. acquired a new position in General Motors in the fourth quarter worth $108,366,000. Caisse DE Depot ET Placement DU Quebec boosted 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 worth $94,300,000 after purchasing an additional 1,906,964 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in General Motors by 158.8% in the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after purchasing an additional 1,332,450 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Down 0.7 %

Shares of General Motors stock opened at $49.46 on Friday. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The business has a 50-day moving average of $49.02 and a two-hundred day moving average of $50.46. The company has a market capitalization of $49.21 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, equities analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. General Motors’s payout ratio is presently 7.80%.

General Motors declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cowen assumed coverage on General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. The Goldman Sachs Group set a $73.00 price target on General Motors in a research note on Saturday, March 1st. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Finally, TD Cowen initiated coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.06.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

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.