Legal & General Group Plc Sells 612,415 Shares of Stellantis N.V. $STLA

Legal & General Group Plc lessened its holdings in Stellantis N.V. (NYSE:STLA) by 3.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,914,973 shares of the company’s stock after selling 612,415 shares during the period. Legal & General Group Plc’s holdings in Stellantis were worth $148,985,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new position in Stellantis in the second quarter worth approximately $28,000. SVB Wealth LLC purchased a new position in Stellantis in the first quarter valued at about $35,000. Atlantic Union Bankshares Corp bought a new position in Stellantis in the second quarter worth about $37,000. Harbour Investments Inc. lifted its position in shares of Stellantis by 136.5% during the first quarter. Harbour Investments Inc. now owns 3,812 shares of the company’s stock valued at $43,000 after buying an additional 2,200 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Stellantis during the second quarter valued at about $74,000. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Trading Up 6.9%

Shares of Stellantis stock opened at $9.87 on Monday. The firm’s 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $9.93. Stellantis N.V. has a 12-month low of $8.39 and a 12-month high of $14.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 1.06.

Stellantis (NYSE:STLA) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of $0.41 by ($1.32). The firm had revenue of $87.44 billion for the quarter, compared to analyst estimates of $87.94 billion. As a group, analysts expect that Stellantis N.V. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STLA has been the subject of several recent analyst reports. Citigroup reiterated a “neutral” rating on shares of Stellantis in a research note on Tuesday, November 11th. BNP Paribas Exane started coverage on shares of Stellantis in a report on Monday, September 8th. They issued a “neutral” rating and a $10.10 price target on the stock. Berenberg Bank raised Stellantis from a “hold” rating to a “buy” rating and set a $11.20 price target on the stock in a research report on Friday, September 19th. BNP Paribas raised Stellantis to a “hold” rating in a research report on Tuesday, September 9th. Finally, Zacks Research upgraded Stellantis from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Stellantis currently has a consensus rating of “Hold” and a consensus target price of $11.75.

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.