Legal & General Group Plc Raises Stake in Stellantis N.V. $STLA

Legal & General Group Plc raised its stake in Stellantis N.V. (NYSE:STLA) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,510,286 shares of the company’s stock after buying an additional 421,069 shares during the quarter. Legal & General Group Plc owned approximately 0.45% of Stellantis worth $150,002,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Leonteq Securities AG purchased a new stake in Stellantis in the 4th quarter valued at $77,209,000. Banque Cantonale Vaudoise grew its holdings in Stellantis by 1,342.0% in the 4th quarter. Banque Cantonale Vaudoise now owns 293,387 shares of the company’s stock valued at $3,260,000 after buying an additional 273,041 shares in the last quarter. AlphaCore Capital LLC grew its holdings in Stellantis by 66.3% in the 4th quarter. AlphaCore Capital LLC now owns 16,892 shares of the company’s stock valued at $184,000 after buying an additional 6,737 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in Stellantis in the 4th quarter valued at $4,434,000. Finally, Allworth Financial LP lifted its stake in shares of Stellantis by 10.2% in the 4th quarter. Allworth Financial LP now owns 61,324 shares of the company’s stock valued at $668,000 after purchasing an additional 5,663 shares during the last quarter. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Stellantis Price Performance

STLA opened at $8.16 on Thursday. The stock’s 50-day moving average price is $7.56 and its 200 day moving average price is $8.95. Stellantis N.V. has a 12-month low of $6.28 and a 12-month high of $12.22. The company has a current ratio of 1.03, a quick ratio of 0.75 and a debt-to-equity ratio of 0.50. The firm has a market cap of $30.72 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 0.27 and a beta of 1.39.

Stellantis (NYSE:STLA) last posted its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $44.14 billion for the quarter. As a group, sell-side analysts expect that Stellantis N.V. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on STLA shares. Kepler Capital Markets cut Stellantis from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Zacks Research upgraded Stellantis from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Morgan Stanley cut Stellantis from an “overweight” rating to an “equal weight” rating and set a $10.90 price target for the company. in a report on Tuesday, February 3rd. Wolfe Research upgraded Stellantis from an “underperform” rating to a “peer perform” rating in a report on Monday, February 9th. Finally, TD Cowen reiterated a “hold” rating on shares of Stellantis in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.91.

Key Stories Impacting Stellantis

Here are the key news stories impacting Stellantis this week:

• Negative Sentiment: Stellantis is facing a wave of securities-fraud class action notices, with firms advertising a June 8 lead-plaintiff deadline for investors who lost money during the alleged class period. Article Title
• Negative Sentiment: More lawsuit reminders from additional law firms suggest the legal overhang is broad and could keep pressure on the shares until more clarity emerges. Article Title
• Neutral Sentiment: Stellantis also drew mixed analyst commentary and investor-day discussion, but these items were less immediate than the litigation headlines in terms of stock impact. Article Title
• Neutral Sentiment: Coverage on Stellantis’s future Alfa Romeo platform strategy and the FaSTLAne 2030 plan may support longer-term fundamentals, but it is not the main driver of today’s move. Article Title

About Stellantis

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.