Allianz SE Invests $1.49 Million in Stellantis (NYSE:STLA)

Allianz SE bought a new stake in Stellantis (NYSE:STLA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 114,085 shares of the company's stock, valued at approximately $1,488,000.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Stellantis in the 4th quarter valued at approximately $609,076,000. Banco Santander S.A. increased its stake in shares of Stellantis by 282.2% in the fourth quarter. Banco Santander S.A. now owns 7,258,025 shares of the company's stock worth $94,717,000 after acquiring an additional 5,359,190 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in Stellantis during the fourth quarter valued at $53,858,000. Franklin Resources Inc. grew its stake in Stellantis by 74.7% in the third quarter. Franklin Resources Inc. now owns 7,605,563 shares of the company's stock valued at $102,340,000 after purchasing an additional 3,252,492 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in Stellantis by 34.3% in the 4th quarter. AustralianSuper Pty Ltd now owns 12,210,877 shares of the company's stock worth $159,495,000 after purchasing an additional 3,121,462 shares during the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on STLA. Cowen started coverage on shares of Stellantis in a research note on Thursday, March 6th. They set a "hold" rating on the stock. TD Cowen initiated coverage on shares of Stellantis in a research report on Friday, March 7th. They set a "hold" rating and a $13.00 target price on the stock. Finally, Piper Sandler cut Stellantis from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $23.00 to $13.00 in a research report on Thursday, March 20th. Nine research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Stellantis presently has a consensus rating of "Hold" and an average target price of $19.27.

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Stellantis Stock Performance

Shares of Stellantis stock traded down $0.12 during midday trading on Tuesday, hitting $11.09. The company had a trading volume of 16,397,020 shares, compared to its average volume of 9,347,353. Stellantis has a 1-year low of $10.96 and a 1-year high of $28.49. The business's 50 day simple moving average is $12.92 and its two-hundred day simple moving average is $13.26. The stock has a market cap of $33.53 billion, a PE ratio of 3.25 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85.

About Stellantis

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.