Bank of Italy Reduces Position in Stellantis N.V. (NYSE:STLA)

Bank of Italy trimmed its holdings in Stellantis N.V. (NYSE:STLA - Free Report) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,830,307 shares of the company's stock after selling 2,748,695 shares during the quarter. Stellantis accounts for 19.2% of Bank of Italy's portfolio, making the stock its 2nd largest holding. Bank of Italy owned approximately 1.09% of Stellantis worth $364,362,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Stellantis by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 84,551,129 shares of the company's stock valued at $1,099,842,000 after buying an additional 2,102,528 shares in the last quarter. Norges Bank acquired a new stake in shares of Stellantis in the 4th quarter valued at approximately $609,076,000. Marshall Wace LLP boosted its position in shares of Stellantis by 72,446.0% during the fourth quarter. Marshall Wace LLP now owns 17,400,161 shares of the company's stock worth $226,899,000 after purchasing an additional 17,376,176 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Stellantis by 24.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 14,245,300 shares of the company's stock worth $185,626,000 after acquiring an additional 2,839,709 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Stellantis by 25.7% in the 4th quarter. Franklin Resources Inc. now owns 9,563,705 shares of the company's stock valued at $124,309,000 after purchasing an additional 1,958,142 shares during the period. 59.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on STLA shares. Piper Sandler cut 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 research note on Thursday, March 20th. Redburn Atlantic downgraded Stellantis from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 22nd. UBS Group cut Stellantis from a "buy" rating to a "neutral" rating in a research note on Monday, April 14th. Cowen started coverage on shares of Stellantis in a research note on Thursday, March 6th. They issued a "hold" rating for the company. Finally, DZ Bank raised shares of Stellantis from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Twelve investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $16.49.

Stellantis Stock Performance

NYSE:STLA opened at $9.59 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.30. Stellantis N.V. has a twelve month low of $8.39 and a twelve month high of $21.05. The company has a fifty day moving average of $9.87 and a 200-day moving average of $11.59. The firm has a market capitalization of $28.98 billion, a P/E ratio of 2.81 and a beta of 1.47.

Stellantis Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 24th were issued a $0.5032 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a dividend yield of 6.07%.

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.

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