Envestnet Portfolio Solutions Inc. Has $2.43 Million Stock Holdings in General Motors (NYSE:GM)

Envestnet Portfolio Solutions Inc. cut its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 43.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,696 shares of the auto manufacturer's stock after selling 34,454 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in General Motors were worth $2,434,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its stake in General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after purchasing an additional 1,510 shares in the last quarter. SYM FINANCIAL Corp bought a new stake in shares of General Motors in the 4th quarter valued at $474,000. Asset Management One Co. Ltd. raised its stake in General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock worth $25,178,000 after buying an additional 39,474 shares during the period. Avantra Family Wealth Inc. acquired a new stake in General Motors during the 4th quarter worth $1,044,000. Finally, Handelsbanken Fonder AB lifted its holdings in General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock worth $10,763,000 after acquiring an additional 19,924 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at General Motors

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 shares were acquired 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 directly owns 13,714 shares of the company's stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by insiders.

General Motors Stock Performance

Shares of NYSE:GM traded up $1.67 on Monday, reaching $51.47. 16,019,674 shares of the company's stock were exchanged, compared to its average volume of 12,893,087. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a fifty day moving average of $49.05 and a 200-day moving average of $50.51. The company has a market capitalization of $51.21 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 0.67 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

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

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

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, March 7th. General Motors's payout ratio is currently 7.80%.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $73.00 price target on General Motors in a research report on Saturday, March 1st. StockNews.com lowered shares of General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Piper Sandler upped their price target on shares of General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a report on Thursday. Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Finally, UBS Group restated a "buy" rating on shares of General Motors in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $63.06.

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.