Todd Asset Management LLC Lowers Position in Stellantis (NYSE:STLA)

Todd Asset Management LLC cut its holdings in shares of Stellantis (NYSE:STLA) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,100 shares of the company’s stock after selling 9,700 shares during the quarter. Todd Asset Management LLC’s holdings in Stellantis were worth $3,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC acquired a new position in Stellantis during the 3rd quarter worth approximately $5,305,000. Assenagon Asset Management S.A. increased its holdings in Stellantis by 122.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 149,052 shares of the company’s stock valued at $3,482,000 after buying an additional 82,074 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in Stellantis in the third quarter valued at $2,405,000. Ballentine Partners LLC lifted its holdings in Stellantis by 22.1% during the 4th quarter. Ballentine Partners LLC now owns 17,723 shares of the company’s stock worth $413,000 after buying an additional 3,209 shares during the last quarter. Finally, SVB Wealth LLC boosted its position in shares of Stellantis by 6.2% during the 4th quarter. SVB Wealth LLC now owns 13,480 shares of the company’s stock worth $314,000 after acquiring an additional 786 shares in the last quarter. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder N.V. Stellantis purchased 800,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $4.83 per share, for a total transaction of $3,864,000.00. Following the acquisition, the insider now directly owns 36,251,720 shares in the company, valued at approximately $175,095,807.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 3,150,000 shares of company stock worth $15,724,500 in the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein lowered Stellantis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. HSBC downgraded shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. Redburn Atlantic began coverage on shares of Stellantis in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Morgan Stanley boosted their target price on Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Piper Sandler started coverage on Stellantis in a research note on Friday, March 15th. They set an “overweight” rating and a $39.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.28.

Stellantis Trading Up 1.4 %

Shares of STLA traded up $0.31 on Friday, reaching $21.86. The stock had a trading volume of 9,286,122 shares, compared to its average volume of 6,049,596. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.24. The firm has a 50-day moving average of $26.62 and a 200 day moving average of $23.52. Stellantis has a twelve month low of $15.07 and a twelve month high of $29.51.

Stellantis Dividend Announcement

The company also recently declared an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were issued a $1.147 dividend. This represents a dividend yield of 4.55%. The ex-dividend date was Monday, April 22nd.

Stellantis Company 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.