Kedalion Capital Management LLP Acquires New Shares in Stellantis N.V. (NYSE:STLA)

Kedalion Capital Management LLP acquired a new position in Stellantis N.V. (NYSE:STLA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 500,000 shares of the company's stock, valued at approximately $5,553,000. Stellantis makes up approximately 0.2% of Kedalion Capital Management LLP's investment portfolio, making the stock its 3rd largest position.

Several other hedge funds have also recently bought and sold shares of the business. Exane Asset Management grew its holdings in shares of Stellantis by 22.9% during the 1st quarter. Exane Asset Management now owns 1,297,771 shares of the company's stock worth $14,397,000 after purchasing an additional 241,642 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Stellantis by 117.9% during the first quarter. Envestnet Asset Management Inc. now owns 106,736 shares of the company's stock worth $1,194,000 after buying an additional 57,750 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Stellantis by 118.4% in the 1st quarter. Vontobel Holding Ltd. now owns 2,351,670 shares of the company's stock valued at $26,115,000 after buying an additional 1,274,708 shares during the period. swisspartners Advisors Ltd raised its stake in shares of Stellantis by 6.1% in the 1st quarter. swisspartners Advisors Ltd now owns 700,520 shares of the company's stock valued at $7,853,000 after buying an additional 40,200 shares in the last quarter. Finally, Wealthquest Corp acquired a new stake in shares of Stellantis during the 1st quarter valued at about $102,000. 59.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STLA has been the topic of several analyst reports. Bank of America lowered shares of Stellantis from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $16.50 to $11.75 in a report on Monday. DZ Bank upgraded Stellantis from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Redburn Atlantic lowered shares of Stellantis from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. Piper Sandler lowered shares of Stellantis from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $23.00 to $13.00 in a research note on Thursday, March 20th. Finally, Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and lifted their price objective for the company from $10.25 to $13.20 in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.74.

Stellantis Trading Up 1.6%

Shares of STLA traded up $0.16 during trading hours on Wednesday, hitting $10.27. 22,737,142 shares of the stock were exchanged, compared to its average volume of 12,659,231. The firm has a market capitalization of $31.05 billion, a P/E ratio of 3.01 and a beta of 1.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.09 and a quick ratio of 0.81. Stellantis N.V. has a fifty-two week low of $8.39 and a fifty-two week high of $21.05. The business has a 50-day moving average of $10.02 and a 200-day moving average of $11.36.

Stellantis Announces Dividend

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

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.