Envestnet Asset Management Inc. Sells 69,149 Shares of Stellantis (NYSE:STLA)

Envestnet Asset Management Inc. decreased its holdings in Stellantis (NYSE:STLA - Free Report) by 58.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,986 shares of the company's stock after selling 69,149 shares during the period. Envestnet Asset Management Inc.'s holdings in Stellantis were worth $639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Stellantis in the fourth quarter worth $609,076,000. Korea Investment CORP increased its position in Stellantis by 32.1% in the 4th quarter. Korea Investment CORP now owns 1,305,558 shares of the company's stock worth $17,020,000 after purchasing an additional 317,091 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Stellantis by 3.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,529,083 shares of the company's stock worth $59,045,000 after purchasing an additional 162,201 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Stellantis during the 4th quarter worth about $1,151,000. Finally, Four Tree Island Advisory LLC acquired a new stake in shares of Stellantis during the 4th quarter valued at about $2,019,000. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Price Performance

Shares of NYSE:STLA traded down $0.08 during midday trading on Tuesday, reaching $9.38. The company's stock had a trading volume of 11,628,519 shares, compared to its average volume of 10,914,783. The business's fifty day simple moving average is $10.73 and its 200-day simple moving average is $12.36. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. Stellantis has a fifty-two week low of $8.39 and a fifty-two week high of $23.37. The company has a market capitalization of $28.34 billion, a P/E ratio of 2.75 and a beta of 1.45.

Stellantis Announces Dividend

The business also recently announced a dividend, which was paid on Monday, May 5th. Shareholders of record on Thursday, April 24th were paid a $0.5032 dividend. This represents a dividend yield of 6.07%. The ex-dividend date was Wednesday, April 23rd. Stellantis's dividend payout ratio is presently 20.82%.

Analysts Set New Price Targets

STLA has been the topic of several recent research reports. Piper Sandler lowered Stellantis from an "overweight" rating to a "neutral" rating and cut their target price for the company from $23.00 to $13.00 in a report on Thursday, March 20th. Cowen assumed coverage on Stellantis in a report on Thursday, March 6th. They issued a "hold" rating for the company. TD Cowen started coverage on Stellantis in a report on Friday, March 7th. They set a "hold" rating and a $13.00 price target on the stock. Redburn Atlantic lowered shares of Stellantis from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 22nd. Finally, DZ Bank raised shares of Stellantis from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Twelve investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $16.49.

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.