Ameriprise Financial Inc. Cuts Stock Position in Stellantis (NYSE:STLA)

Ameriprise Financial Inc. decreased its holdings in shares of Stellantis (NYSE:STLA) by 31.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,321 shares of the company’s stock after selling 204,772 shares during the quarter. Ameriprise Financial Inc.’s holdings in Stellantis were worth $5,890,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of STLA. Geneos Wealth Management Inc. purchased a new position in Stellantis during the fourth quarter worth about $26,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Stellantis in the fourth quarter valued at approximately $47,000. MassMutual Private Wealth & Trust FSB raised its holdings in Stellantis by 67.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company’s stock valued at $48,000 after acquiring an additional 1,489 shares in the last quarter. WealthCollab LLC raised its holdings in Stellantis by 96.5% in the fourth quarter. WealthCollab LLC now owns 4,594 shares of the company’s stock valued at $60,000 after acquiring an additional 2,256 shares in the last quarter. Finally, Spire Wealth Management increased its stake in Stellantis by 29.7% in the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company’s stock valued at $69,000 after purchasing an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Stellantis Stock Down 4.0%

STLA opened at $9.94 on Friday. 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 stock has a market capitalization of $30.04 billion, a price-to-earnings ratio of 2.91 and a beta of 1.45. The business has a 50-day moving average of $10.18 and a two-hundred day moving average of $12.09. Stellantis has a 12 month low of $8.39 and a 12 month high of $22.61.

Stellantis Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, May 5th. Shareholders of record on Thursday, April 24th were issued a $0.5032 dividend. This represents a yield of 6.07%. The ex-dividend date was Wednesday, April 23rd. Stellantis’s dividend payout ratio (DPR) is 20.82%.

Analyst Upgrades and Downgrades

Several brokerages have commented on STLA. UBS Group lowered shares of Stellantis from a “buy” rating to a “neutral” rating in a research note on Monday, April 14th. DZ Bank raised Stellantis from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 22nd. Piper Sandler downgraded Stellantis from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $13.00 in a report on Thursday, March 20th. Redburn Atlantic downgraded Stellantis from a “buy” rating to a “neutral” rating in a report on Tuesday, April 22nd. Finally, Cowen started coverage on Stellantis in a research note on Thursday, March 6th. They set a “hold” rating for the company. Twelve equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.49.

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.