Stellantis N.V. $STLA Stock: Generali Asset Management SPA SGR Decreases Position

Key Points

• Generali Asset Management cut its Stellantis stake by 19% in the third quarter, selling 877,911 shares and retaining 3.75 million shares valued at approximately $16.4 million.
• Other institutional investors adjusted their positions, including major new purchases and increases from Chou Associates, TD Waterhouse Canada and Engineers Gate; institutions collectively own 59.48% of Stellantis.
• Stellantis shares opened at $4.14, near their 12-month low, while analysts maintain a broadly cautious outlook with an average “Reduce” rating and a $7.38 price target.

Generali Asset Management SPA SGR decreased its stake in Stellantis N.V. (NYSE:STLA - Free Report) by 19.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,754,157 shares of the company's stock after selling 877,911 shares during the quarter. Generali Asset Management SPA SGR owned about 0.10% of Stellantis worth $16,368,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of STLA. Great Lakes Advisors LLC bought a new stake in Stellantis in the second quarter worth $1,936,000. Ellsworth Advisors LLC purchased a new position in Stellantis during the third quarter worth $2,022,000. Engineers Gate Manager LP increased its position in Stellantis by 439.1% during the second quarter. Engineers Gate Manager LP now owns 333,091 shares of the company's stock valued at $1,894,000 after acquiring an additional 271,303 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Stellantis by 7,589.8% during the third quarter. TD Waterhouse Canada Inc. now owns 553,669 shares of the company's stock valued at $2,597,000 after acquiring an additional 546,469 shares during the last quarter. Finally, Chou Associates Management Inc. purchased a new stake in shares of Stellantis in the second quarter valued at $8,003,000. Institutional investors own 59.48% of the company's stock.

Stellantis Trading Up 1.4%

NYSE STLA opened at $4.14 on Wednesday. The stock has a market cap of $15.58 billion, a PE ratio of 10.61 and a beta of 1.49. Stellantis N.V. has a 12 month low of $3.92 and a 12 month high of $12.22. The company's 50-day moving average price is $4.82 and its 200-day moving average price is $6.69.

Stellantis (NYSE:STLA - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.14 earnings per share for the quarter. The company had revenue of $49.63 billion for the quarter. As a group, sell-side analysts forecast that Stellantis N.V. will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

STLA has been the topic of a number of recent analyst reports. Evercore set a $7.50 price objective on shares of Stellantis in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Stellantis in a research note on Tuesday, July 14th. Berenberg Bank downgraded Stellantis from a "buy" rating to a "hold" rating in a report on Wednesday, September 16th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Stellantis in a report on Thursday, July 9th. Finally, Freedom Broker decreased their price target on Stellantis from $7.50 to $6.80 and set a "buy" rating for the company in a research note on Tuesday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $7.38.

About Stellantis

Stellantis N.V. NYSE: STLA is a global automotive company formed in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA. The company designs, engineers, manufactures and sells passenger cars, light commercial vehicles and mobility solutions across markets worldwide.

Stellantis operates a broad portfolio of automotive brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, Ram and Vauxhall. Its products range from mass-market cars and sport utility vehicles to commercial vans, performance vehicles and luxury automobiles.

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