Ameriprise Financial Inc. Sells 204,772 Shares of Stellantis (NYSE:STLA)

Ameriprise Financial Inc. trimmed its holdings in shares of Stellantis (NYSE:STLA - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 451,321 shares of the company's stock after selling 204,772 shares during the quarter. Ameriprise Financial Inc.'s holdings in Stellantis were worth $5,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Stellantis in the 4th quarter worth about $609,076,000. Bridgewater Associates LP purchased a new position in shares of Stellantis in the 4th quarter worth about $999,000. Korea Investment CORP boosted its holdings in shares of 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 in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Stellantis by 3.7% in 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. Finally, Raymond James Financial Inc. bought a new stake in shares of Stellantis in the 4th quarter valued at about $1,151,000. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Stellantis Stock Up 1.3%

STLA traded up $0.14 during trading on Thursday, hitting $10.29. 2,311,480 shares of the company's stock traded hands, compared to its average volume of 11,251,518. The company's 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $12.02. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Stellantis has a 12-month low of $8.39 and a 12-month high of $22.31. The stock has a market capitalization of $31.09 billion, a price-to-earnings ratio of 3.02 and a beta of 1.45.

Stellantis Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STLA shares. Redburn Atlantic lowered Stellantis from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 22nd. TD Cowen started coverage on Stellantis in a research note on Friday, March 7th. They issued a "hold" rating and a $13.00 target price for the company. Piper Sandler lowered Stellantis from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $13.00 in a research note on Thursday, March 20th. Cowen started coverage on Stellantis in a research note on Thursday, March 6th. They issued a "hold" rating for the company. Finally, UBS Group lowered Stellantis from a "buy" rating to a "neutral" rating in a research note on Monday, April 14th. Twelve equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Stellantis currently has an average rating of "Hold" and an average price target of $16.49.

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.