M&G Investment Management Ltd. reduced its position in shares of Stellantis (NYSE:STLA - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,425,907 shares of the company's stock after selling 1,575,987 shares during the period. Stellantis accounts for approximately 0.9% of M&G Investment Management Ltd.'s portfolio, making the stock its 27th largest position. M&G Investment Management Ltd. owned 0.21% of Stellantis worth $148,920,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Stellantis by 10.5% in the third quarter. Vanguard Group Inc. now owns 83,232,805 shares of the company's stock worth $1,592,244,000 after buying an additional 7,883,816 shares during the period. Acadian Asset Management LLC lifted its holdings in Stellantis by 100,358.0% in the third quarter. Acadian Asset Management LLC now owns 20,993,704 shares of the company's stock worth $404,714,000 after buying an additional 20,972,806 shares during the period. Invesco Ltd. purchased a new stake in Stellantis in the third quarter worth about $232,047,000. Canada Pension Plan Investment Board lifted its holdings in Stellantis by 5.1% in the third quarter. Canada Pension Plan Investment Board now owns 9,173,212 shares of the company's stock worth $176,858,000 after buying an additional 442,100 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Stellantis by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,514,872 shares of the company's stock worth $175,249,000 after buying an additional 214,654 shares during the period. 59.48% of the stock is currently owned by hedge funds and other institutional investors.
Stellantis Stock Performance
STLA traded down $0.15 during mid-day trading on Wednesday, reaching $23.17. 5,853,065 shares of the company traded hands, compared to its average volume of 5,755,716. The stock has a market capitalization of $72.59 billion, a P/E ratio of 4.12, a P/E/G ratio of 0.30 and a beta of 1.62. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.24. The company's fifty day moving average price is $26.03 and its 200-day moving average price is $23.73. Stellantis has a 52-week low of $15.07 and a 52-week high of $29.51.
Stellantis Dividend Announcement
The business also recently announced an annual dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were paid a dividend of $1.147 per share. The ex-dividend date was Monday, April 22nd. This represents a yield of 4.55%. Stellantis's dividend payout ratio is presently 29.54%.
Analysts Set New Price Targets
Several research firms have recently issued reports on STLA. Sanford C. Bernstein lowered shares of Stellantis from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 28th. Morgan Stanley lifted their target price on shares of Stellantis from $26.00 to $30.40 and gave the company an "overweight" rating in a report on Thursday, April 11th. Piper Sandler started coverage on shares of Stellantis in a research report on Friday, March 15th. They set an "overweight" rating and a $39.00 price target for the company. Wolfe Research started coverage on shares of Stellantis in a research report on Thursday, February 1st. They set an "outperform" rating for the company. Finally, HSBC downgraded shares of Stellantis from a "buy" rating to a "hold" rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.28.
View Our Latest Stock Analysis on Stellantis
Insider Buying and Selling at Stellantis
In related news, major shareholder N.V. Stellantis acquired 800,000 shares of Stellantis stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of $4.60 per share, for a total transaction of $3,680,000.00. Following the purchase, the insider now directly owns 35,451,720 shares of the company's stock, valued at approximately $163,077,912. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 3,150,000 shares of company stock worth $15,724,500.
About Stellantis
(
Free Report)
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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