The Manufacturers Life Insurance Company lowered its stake in shares of Stellantis N.V. (NYSE:STLA – Free Report) by 23.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 588,507 shares of the company’s stock after selling 180,944 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Stellantis were worth $4,088,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Stellantis in the 4th quarter valued at $553,692,000. Viking Global Investors LP acquired a new stake in Stellantis during the 4th quarter worth $434,320,000. Marshall Wace LLP raised its stake in Stellantis by 353.2% during the 4th quarter. Marshall Wace LLP now owns 15,145,245 shares of the company’s stock worth $167,481,000 after acquiring an additional 11,803,688 shares in the last quarter. Franklin Resources Inc. lifted its position in Stellantis by 122.8% in the fourth quarter. Franklin Resources Inc. now owns 18,753,235 shares of the company’s stock valued at $205,019,000 after acquiring an additional 10,337,920 shares during the last quarter. Finally, Banco Santander S.A. boosted its stake in Stellantis by 99.9% in the fourth quarter. Banco Santander S.A. now owns 19,046,160 shares of the company’s stock valued at $207,413,000 after acquiring an additional 9,520,576 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on STLA. HSBC lowered Stellantis from a “hold” rating to a “reduce” rating in a report on Friday, July 3rd. UBS Group cut Stellantis from a “buy” rating to a “neutral” rating in a research report on Monday. Piper Sandler lowered Stellantis from an “overweight” rating to an “underweight” rating and set a $4.00 price target on the stock. in a research report on Monday, July 27th. Freedom Capital upgraded Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Finally, TD Cowen decreased their price objective on Stellantis from $9.00 to $6.00 and set a “hold” rating for the company in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.66.
Stellantis Trading Down 1.3%
Shares of STLA stock opened at $5.55 on Friday. The company has a market capitalization of $20.91 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 0.32 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $6.17 and its two-hundred day moving average is $7.27. Stellantis N.V. has a twelve month low of $5.25 and a twelve month high of $12.22.
Stellantis (NYSE:STLA – Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.14 EPS for the quarter. The company had revenue of $49.63 billion for the quarter. Equities analysts forecast that Stellantis N.V. will post 0.62 EPS for the current year.
Stellantis Company Profile
Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.
In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.
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