Allspring Global Investments Holdings LLC Sells 82,378 Shares of Stellantis N.V. (NYSE:STLA)

Allspring Global Investments Holdings LLC reduced its stake in Stellantis N.V. (NYSE:STLA - Free Report) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,349 shares of the company's stock after selling 82,378 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Stellantis were worth $914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. swisspartners Advisors Ltd increased its holdings in Stellantis by 6.1% in the first quarter. swisspartners Advisors Ltd now owns 700,520 shares of the company's stock worth $7,853,000 after purchasing an additional 40,200 shares in the last quarter. Wealthquest Corp bought a new stake in Stellantis in the first quarter worth approximately $102,000. Cambridge Investment Research Advisors Inc. increased its holdings in Stellantis by 19.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,094 shares of the company's stock worth $290,000 after purchasing an additional 4,159 shares in the last quarter. Manning & Napier Advisors LLC increased its holdings in Stellantis by 1.6% in the first quarter. Manning & Napier Advisors LLC now owns 207,849 shares of the company's stock worth $2,330,000 after purchasing an additional 3,346 shares in the last quarter. Finally, Altrius Capital Management Inc increased its holdings in Stellantis by 13.2% in the first quarter. Altrius Capital Management Inc now owns 668,525 shares of the company's stock worth $7,494,000 after purchasing an additional 78,164 shares in the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on STLA shares. Piper Sandler downgraded Stellantis from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. DZ Bank upgraded Stellantis from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Bank of America downgraded 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. Redburn Atlantic downgraded Stellantis from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. Finally, UBS Group downgraded Stellantis from a "buy" rating to a "neutral" rating in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Stellantis presently has an average rating of "Hold" and a consensus target price of $12.74.

Stellantis Stock Down 3.0%

NYSE STLA traded down $0.31 on Friday, reaching $10.06. The company had a trading volume of 26,737,409 shares, compared to its average volume of 12,840,063. The stock has a market capitalization of $30.41 billion, a P/E ratio of 2.95, a P/E/G ratio of 0.40 and a beta of 1.44. The company's fifty day moving average is $10.06 and its 200 day moving average is $11.33. Stellantis N.V. has a 52-week low of $8.39 and a 52-week high of $21.05. 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 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 of this dividend was Wednesday, April 23rd.

Stellantis Company 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.