Acadian Asset Management LLC Has $20.85 Million Stock Holdings in Stellantis N.V. $STLA

Key Points

• Acadian Asset Management LLC increased its stake in Stellantis N.V. by 46.8% during the 1st quarter, now holding approximately 1.88 million shares valued at around $20.85 million.
• Multiple institutional investors, including Focus Partners Wealth and UBS Asset Management, also boosted their stakes in Stellantis, reflecting growing institutional interest in the company.
• Stellantis shares opened at $9.58, with a market capitalization of $28.96 billion and an average target price of $12.21, despite recent downgrades from several research firms.

Acadian Asset Management LLC boosted its stake in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 46.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,882,126 shares of the company's stock after purchasing an additional 599,855 shares during the period. Acadian Asset Management LLC owned about 0.06% of Stellantis worth $20,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Stellantis by 208.0% in the first quarter. Goldman Sachs Group Inc. now owns 95,367,261 shares of the company's stock valued at $1,069,067,000 after acquiring an additional 64,406,866 shares during the last quarter. Vanguard Group Inc. lifted its stake in Stellantis by 3.3% in the first quarter. Vanguard Group Inc. now owns 87,342,145 shares of the company's stock valued at $979,629,000 after acquiring an additional 2,791,016 shares during the last quarter. Amundi lifted its stake in Stellantis by 6.4% in the first quarter. Amundi now owns 78,473,374 shares of the company's stock valued at $801,213,000 after acquiring an additional 4,708,200 shares during the last quarter. Deutsche Bank AG acquired a new stake in Stellantis in the first quarter valued at approximately $368,520,000. Finally, Canada Pension Plan Investment Board lifted its stake in Stellantis by 6.2% in the first quarter. Canada Pension Plan Investment Board now owns 15,131,049 shares of the company's stock valued at $168,031,000 after acquiring an additional 885,749 shares during the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on STLA. Zacks Research cut shares of Stellantis from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. Bank of America cut shares of Stellantis from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $16.50 to $11.75 in a research note on Monday, July 7th. Wolfe Research cut shares of Stellantis from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, July 2nd. BNP Paribas upgraded shares of Stellantis to a "hold" rating in a research note on Tuesday, September 9th. Finally, Jefferies Financial Group upgraded shares of Stellantis from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $10.25 to $13.20 in a research note on Wednesday, June 25th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $12.21.

Stellantis Stock Performance

NYSE:STLA traded up $0.31 during trading hours on Monday, hitting $9.63. 14,476,148 shares of the company traded hands, compared to its average volume of 17,180,830. The stock has a market capitalization of $29.11 billion, a price-to-earnings ratio of 2.82, a P/E/G ratio of 0.55 and a beta of 1.46. Stellantis N.V. has a twelve month low of $8.39 and a twelve month high of $16.29. The firm has a 50-day moving average of $9.52 and a 200 day moving average of $10.11. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37.

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.