Raymond James Financial Inc. Buys New Stake in Stellantis (NYSE:STLA)

Raymond James Financial Inc. bought a new position in Stellantis (NYSE:STLA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 88,186 shares of the company's stock, valued at approximately $1,151,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. World Investment Advisors LLC purchased a new position in Stellantis during the third quarter valued at approximately $1,324,000. Franklin Resources Inc. lifted its holdings in Stellantis by 74.7% in the 3rd quarter. Franklin Resources Inc. now owns 7,605,563 shares of the company's stock worth $102,340,000 after purchasing an additional 3,252,492 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Stellantis by 160.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company's stock valued at $85,000 after buying an additional 4,000 shares during the last quarter. Persium Advisors LLC purchased a new position in Stellantis during the fourth quarter valued at $263,000. Finally, Accurate Wealth Management LLC grew its position in shares of Stellantis by 158.7% during the fourth quarter. Accurate Wealth Management LLC now owns 45,577 shares of the company's stock valued at $571,000 after purchasing an additional 27,962 shares in the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Price Performance

NYSE STLA remained flat at $9.88 during trading hours on Friday. 7,251,777 shares of the company traded hands, compared to its average volume of 10,939,694. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company's 50-day moving average is $10.61 and its 200-day moving average is $12.32. Stellantis has a one year low of $8.39 and a one year high of $23.37. The company has a market cap of $29.87 billion, a P/E ratio of 2.90 and a beta of 1.45.

Stellantis Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 24th were issued a $0.5032 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a dividend yield of 6.07%. Stellantis's dividend payout ratio is presently 20.82%.

Wall Street Analysts Forecast Growth

STLA has been the subject of several research analyst reports. Piper Sandler cut Stellantis from an "overweight" rating to a "neutral" rating and cut their price target for the company from $23.00 to $13.00 in a report on Thursday, March 20th. Cowen began coverage on shares of Stellantis in a research report on Thursday, March 6th. They set a "hold" rating for the company. UBS Group downgraded Stellantis from a "buy" rating to a "neutral" rating in a research report on Monday, April 14th. DZ Bank raised shares of Stellantis from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Redburn Atlantic cut shares of Stellantis from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. Twelve research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Stellantis presently has a consensus rating of "Hold" and an average target price of $16.49.

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.