Envestnet Asset Management Inc. Has $82.47 Million Stake in General Motors Company $GM

Envestnet Asset Management Inc. trimmed its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 5.6% in the second quarter, HoldingsChannel reports. The firm owned 1,675,801 shares of the auto manufacturer’s stock after selling 100,243 shares during the period. Envestnet Asset Management Inc.’s holdings in General Motors were worth $82,466,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GM. Trust Co. of Toledo NA OH acquired a new stake in General Motors in the second quarter worth $25,000. GFG Capital LLC acquired a new stake in General Motors in the second quarter worth $27,000. Costello Asset Management INC acquired a new stake in General Motors in the first quarter worth $32,000. RMG Wealth Management LLC acquired a new stake in General Motors in the second quarter worth $32,000. Finally, WPG Advisers LLC acquired a new stake in General Motors in the first quarter worth $34,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on GM. Mizuho set a $76.00 price target on shares of General Motors in a report on Wednesday, October 22nd. Weiss Ratings cut shares of General Motors from a “buy (b-)” rating to a “hold (c)” rating in a report on Saturday, October 25th. Wedbush set a $75.00 price objective on shares of General Motors and gave the company an “outperform” rating in a report on Tuesday, October 21st. Tigress Financial lifted their price objective on shares of General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Finally, Bank of America reduced their price objective on shares of General Motors from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

General Motors Stock Down 1.2%

Shares of NYSE GM opened at $69.07 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06. The company has a 50-day moving average price of $59.84 and a 200-day moving average price of $53.44. General Motors Company has a 1 year low of $41.60 and a 1 year high of $70.24. The stock has a market capitalization of $64.43 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.97 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The company had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same period last year, the firm earned $2.96 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, equities research analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio (DPR) is presently 12.07%.

Insider Activity

In related news, EVP Rory Harvey sold 23,977 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Mark L. Reuss sold 260,600 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the transaction, the president directly owned 98,006 shares in the company, valued at $6,512,498.70. The trade was a 72.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,335,424 shares of company stock valued at $139,694,083 over the last ninety days. Company insiders own 0.54% of the company’s stock.

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.