Legal & General Group Plc Cuts Position in Stellantis (NYSE:STLA)

Legal & General Group Plc lessened its stake in Stellantis (NYSE:STLA - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,660,791 shares of the company's stock after selling 4,498,586 shares during the period. Legal & General Group Plc owned about 0.55% of Stellantis worth $217,239,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new stake in shares of Stellantis in the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Stellantis during the fourth quarter valued at $47,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Stellantis by 67.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company's stock valued at $48,000 after purchasing an additional 1,489 shares during the period. Spire Wealth Management increased its stake in shares of Stellantis by 29.7% during the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company's stock worth $69,000 after purchasing an additional 1,211 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in shares of Stellantis by 160.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company's stock worth $85,000 after purchasing an additional 4,000 shares during the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STLA has been the topic of several research reports. Cowen started coverage on Stellantis in a research report on Thursday, March 6th. They issued a "hold" rating on the stock. TD Cowen began coverage on Stellantis in a report on Friday, March 7th. They issued a "hold" rating and a $13.00 target price for the company. Piper Sandler cut shares of Stellantis from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $23.00 to $13.00 in a research report on Thursday, March 20th. Finally, UBS Group lowered shares of Stellantis from a "buy" rating to a "neutral" rating in a report on Monday. Ten analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $16.49.

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Stellantis Stock Up 0.2 %

Stellantis stock traded up $0.02 during mid-day trading on Tuesday, reaching $9.39. 20,622,914 shares of the company's stock were exchanged, compared to its average volume of 10,412,158. The company has a fifty day moving average of $12.06 and a 200-day moving average of $12.79. The company has a market cap of $28.39 billion, a P/E ratio of 2.75 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. Stellantis has a twelve month low of $8.39 and a twelve month high of $27.04.

Stellantis Profile

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.