Stellantis (NYSE:STLA) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in shares of Stellantis (NYSE:STLA) by 21.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,660,791 shares of the company’s stock after selling 4,498,586 shares during the quarter. Legal & General Group Plc owned 0.55% of Stellantis worth $217,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC raised its position in Stellantis by 10.2% during the fourth quarter. Cerity Partners LLC now owns 87,866 shares of the company’s stock valued at $1,165,000 after acquiring an additional 8,129 shares in the last quarter. Russell Investments Group Ltd. raised its position in Stellantis by 7.8% during the fourth quarter. Russell Investments Group Ltd. now owns 556,639 shares of the company’s stock valued at $7,272,000 after acquiring an additional 40,220 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in Stellantis by 3.7% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,529,083 shares of the company’s stock valued at $59,045,000 after acquiring an additional 162,201 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Stellantis during the fourth quarter valued at approximately $47,000. Finally, Pitcairn Co. purchased a new position in Stellantis during the fourth quarter valued at approximately $137,000. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Stock Performance

Shares of NYSE:STLA opened at $10.08 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. The business’s 50 day moving average price is $12.30 and its 200-day moving average price is $12.95. The firm has a market capitalization of $30.46 billion, a PE ratio of 2.95 and a beta of 1.44. Stellantis has a 1 year low of $8.39 and a 1 year high of $27.21.

Analyst Ratings Changes

Several research analysts recently weighed in on STLA shares. Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $13.00 in a research report on Thursday, March 20th. Cowen started coverage on Stellantis in a research report on Thursday, March 6th. They issued a “hold” rating for the company. Finally, TD Cowen started coverage on Stellantis in a research report on Friday, March 7th. They issued a “hold” rating and a $13.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Stellantis presently has an average rating of “Hold” and a consensus price target of $19.27.

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.