The Manufacturers Life Insurance Company Cuts Stock Holdings in Stellantis (NYSE:STLA)

The Manufacturers Life Insurance Company cut its holdings in Stellantis (NYSE:STLA - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 822,397 shares of the company's stock after selling 755,427 shares during the period. The Manufacturers Life Insurance Company's holdings in Stellantis were worth $10,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of STLA. Geneos Wealth Management Inc. bought a new position in Stellantis in the 4th quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Stellantis in the 4th quarter worth about $47,000. MassMutual Private Wealth & Trust FSB grew its position in Stellantis by 67.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company's stock valued at $48,000 after buying an additional 1,489 shares during the period. Spire Wealth Management increased its holdings in Stellantis by 29.7% during the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company's stock worth $69,000 after buying an additional 1,211 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its position in Stellantis by 160.0% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company's stock worth $85,000 after acquiring an additional 4,000 shares during the period. 59.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on STLA shares. TD Cowen initiated coverage on shares of Stellantis in a research note on Friday, March 7th. They set a "hold" rating and a $13.00 price target for the company. Piper Sandler downgraded Stellantis from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $23.00 to $13.00 in a research report on Thursday, March 20th. UBS Group cut Stellantis from a "buy" rating to a "neutral" rating in a research report on Monday, April 14th. Cowen initiated coverage on Stellantis in a report on Thursday, March 6th. They issued a "hold" rating for the company. Finally, DZ Bank raised shares of Stellantis from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Twelve investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Stellantis currently has an average rating of "Hold" and an average target price of $16.49.

Stellantis Price Performance

Shares of Stellantis stock traded down $0.07 on Friday, reaching $9.81. The stock had a trading volume of 17,687,395 shares, compared to its average volume of 11,010,799. The business's 50 day moving average is $10.57 and its two-hundred day moving average is $12.29. The company has a market cap of $29.66 billion, a P/E ratio of 2.88 and a beta of 1.45. Stellantis has a 1 year low of $8.39 and a 1 year high of $23.37. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26.

Stellantis Announces Dividend

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

Stellantis 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.