Envestnet Portfolio Solutions Inc. Sells 4,265 Shares of General Motors (NYSE:GM)

Envestnet Portfolio Solutions Inc. decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 77,232 shares of the auto manufacturer’s stock after selling 4,265 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in General Motors were worth $3,588,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in General Motors in the 4th quarter worth about $36,000. Vontobel Holding Ltd. raised its holdings in shares of General Motors by 19.0% during the fourth quarter. Vontobel Holding Ltd. now owns 229,200 shares of the auto manufacturer’s stock valued at $8,233,000 after acquiring an additional 36,629 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of General Motors in the fourth quarter valued at approximately $247,000. Finally, Mackenzie Financial Corp grew its position in General Motors by 30.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,331,916 shares of the auto manufacturer’s stock worth $47,842,000 after acquiring an additional 313,297 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

GM has been the topic of a number of analyst reports. Royal Bank of Canada cut their price target on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Citigroup boosted their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, UBS Group upped their target price on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

General Motors Stock Performance

Shares of General Motors stock traded up $1.39 during trading hours on Thursday, reaching $45.00. The company’s stock had a trading volume of 5,743,907 shares, compared to its average volume of 15,827,427. The stock has a market cap of $51.34 billion, a P/E ratio of 5.33, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The company’s 50 day simple moving average is $46.05 and its 200 day simple moving average is $43.68. General Motors has a one year low of $26.30 and a one year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the previous year, the company earned $1.91 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts expect that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 1.07%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

General Motors announced that its Board of Directors has approved a stock repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the sale, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a filing with the SEC, which is available through this link. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,152,621 shares of company stock worth $51,818,111. 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.