Kestra Private Wealth Services LLC Sells 1,592 Shares of Stellantis (NYSE:STLA)

Kestra Private Wealth Services LLC cut its holdings in shares of Stellantis (NYSE:STLA) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,803 shares of the company’s stock after selling 1,592 shares during the period. Kestra Private Wealth Services LLC’s holdings in Stellantis were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James & Associates lifted its holdings in Stellantis by 721.5% during the third quarter. Raymond James & Associates now owns 228,819 shares of the company’s stock worth $4,377,000 after buying an additional 200,964 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Stellantis by 188.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 43,629 shares of the company’s stock worth $835,000 after purchasing an additional 28,497 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Stellantis by 2.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 21,305 shares of the company’s stock worth $408,000 after purchasing an additional 596 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Stellantis by 309.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,983 shares of the company’s stock valued at $1,396,000 after purchasing an additional 55,163 shares in the last quarter. Finally, Advisor Partners II LLC grew its stake in Stellantis by 18.4% in the third quarter. Advisor Partners II LLC now owns 12,844 shares of the company’s stock valued at $246,000 after purchasing an additional 1,993 shares during the last quarter. 59.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STLA. Nomura restated a “neutral” rating on shares of Stellantis in a report on Wednesday, March 13th. Redburn Atlantic assumed coverage on shares of Stellantis in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Berenberg Bank reaffirmed a “hold” rating on shares of Stellantis in a research report on Tuesday, March 26th. HSBC lowered Stellantis from a “buy” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, Piper Sandler began coverage on Stellantis in a research note on Friday, March 15th. They set an “overweight” rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.28.

Stellantis Stock Up 1.5 %

NYSE:STLA opened at $21.76 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Stellantis has a 12 month low of $15.07 and a 12 month high of $29.51. The firm has a fifty day simple moving average of $26.36 and a 200-day simple moving average of $23.59.

Stellantis Announces Dividend

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

Insiders Place Their Bets

In other news, major shareholder N.V. Stellantis acquired 800,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $4.83 per share, with a total value of $3,864,000.00. Following the completion of the acquisition, the insider now owns 36,251,720 shares of the company’s stock, valued at $175,095,807.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders bought 3,150,000 shares of company stock valued at $15,724,500.

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.