Zurich Insurance Group Ltd FI Reduces Stock Position in Stellantis N.V. $STLA

Key Points

• Zurich Insurance Group Ltd FI has significantly decreased its stake in Stellantis N.V. by 66.9%, selling 1,637,127 shares and holding a total of 808,413 shares valued at approximately $8.97 million.
• Various institutional investors have modified their positions in Stellantis, with notable increases from United Services Automobile Association and Great Lakes Advisors LLC, which raised their stakes by 3.0% and 28.0%, respectively.
• Stellantis has seen a mix of analyst opinions, with ratings ranging from a "buy" to "strong sell," and currently holds an average rating of "Reduce" with a consensus price target of $12.21.

Zurich Insurance Group Ltd FI lowered its stake in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 66.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 808,413 shares of the company's stock after selling 1,637,127 shares during the period. Zurich Insurance Group Ltd FI's holdings in Stellantis were worth $8,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new position in shares of Stellantis during the fourth quarter valued at about $29,000. GAMMA Investing LLC increased its position in shares of Stellantis by 422.3% during the first quarter. GAMMA Investing LLC now owns 3,139 shares of the company's stock worth $35,000 after acquiring an additional 2,538 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Stellantis during the first quarter worth about $35,000. Farther Finance Advisors LLC increased its position in shares of Stellantis by 54.5% during the first quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company's stock worth $37,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Stellantis by 136.5% during the first quarter. Harbour Investments Inc. now owns 3,812 shares of the company's stock worth $43,000 after acquiring an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 59.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on STLA. Jefferies Financial Group raised shares of Stellantis from a "hold" rating to a "buy" rating and boosted their target price for the stock from $10.25 to $13.20 in a research report on Wednesday, June 25th. BNP Paribas Exane began coverage on shares of Stellantis in a research report on Monday. They set a "neutral" rating and a $10.10 target price for the company. Zacks Research downgraded shares of Stellantis from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. Bank of America downgraded shares of Stellantis from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $16.50 to $11.75 in a research report on Monday, July 7th. Finally, Wolfe Research downgraded shares of Stellantis from a "peer perform" rating to an "underperform" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $12.21.

Stellantis Stock Performance

Shares of Stellantis stock traded down $0.22 on Friday, reaching $9.35. 11,958,630 shares of the company traded hands, compared to its average volume of 11,428,966. Stellantis N.V. has a 52 week low of $8.39 and a 52 week high of $16.29. The company has a 50 day moving average of $9.52 and a 200 day moving average of $10.15. The firm has a market capitalization of $28.27 billion, a PE ratio of 2.74, a PEG ratio of 0.57 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77.

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.