Sumitomo Mitsui Trust Holdings Inc. Cuts Stake in Stellantis (NYSE:STLA)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Stellantis (NYSE:STLA) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,009,145 shares of the company’s stock after selling 227,635 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Stellantis were worth $70,415,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in STLA. Cary Street Partners Investment Advisory LLC purchased a new position in Stellantis during the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. grew its holdings in Stellantis by 307.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 1,707 shares of the company’s stock valued at $33,000 after buying an additional 1,288 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Stellantis during the 4th quarter valued at approximately $40,000. Global Retirement Partners LLC lifted its stake in shares of Stellantis by 953.6% in the 3rd quarter. Global Retirement Partners LLC now owns 2,318 shares of the company’s stock valued at $43,000 after purchasing an additional 2,098 shares during the last quarter. Finally, Solstein Capital LLC bought a new stake in shares of Stellantis in the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Wall Street Analyst Weigh In

STLA has been the subject of several analyst reports. HSBC lowered Stellantis from a “buy” rating to a “hold” rating in a research note on Wednesday, January 24th. Berenberg Bank reaffirmed a “hold” rating on shares of Stellantis in a research note on Tuesday, March 26th. Redburn Atlantic initiated coverage on Stellantis in a research note on Wednesday, January 24th. They set a “buy” rating for the company. Wolfe Research initiated coverage on Stellantis in a research note on Thursday, February 1st. They set an “outperform” rating for the company. 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 analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stellantis presently has an average rating of “Hold” and an average target price of $30.28.

Insider Buying and Selling

In other Stellantis news, major shareholder N.V. Stellantis acquired 800,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average cost of $4.83 per share, for a total transaction of $3,864,000.00. Following the completion of the transaction, the insider now owns 36,251,720 shares of the company’s stock, valued at approximately $175,095,807.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders acquired 3,150,000 shares of company stock worth $15,724,500.

Stellantis Stock Down 0.1 %

STLA stock opened at $25.78 on Thursday. 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 business has a 50 day simple moving average of $26.91 and a 200-day simple moving average of $23.15. Stellantis has a 1 year low of $15.07 and a 1 year high of $29.51.

Stellantis Announces Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a $1.147 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a yield of 4.55%.

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.