Artemis Investment Management LLP Buys 69,758 Shares of Stellantis (NYSE:STLA)

Artemis Investment Management LLP grew its stake in shares of Stellantis (NYSE:STLA) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 852,480 shares of the company’s stock after buying an additional 69,758 shares during the period. Artemis Investment Management LLP’s holdings in Stellantis were worth $24,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STLA. Envestnet Portfolio Solutions Inc. bought a new position in shares of Stellantis during the 3rd quarter valued at about $246,000. Envestnet Asset Management Inc. lifted its holdings in shares of Stellantis by 139.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 213,158 shares of the company’s stock valued at $4,084,000 after purchasing an additional 124,022 shares in the last quarter. FMR LLC lifted its holdings in shares of Stellantis by 110.0% during the 3rd quarter. FMR LLC now owns 1,707,330 shares of the company’s stock valued at $32,661,000 after purchasing an additional 894,367 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Stellantis by 27.9% during the 3rd quarter. LPL Financial LLC now owns 198,462 shares of the company’s stock valued at $3,797,000 after purchasing an additional 43,313 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Stellantis by 7.0% during the 3rd quarter. Northern Trust Corp now owns 2,176,169 shares of the company’s stock valued at $41,630,000 after purchasing an additional 142,519 shares in the last quarter. Institutional investors own 59.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on STLA. Piper Sandler began coverage on Stellantis in a report on Friday, March 15th. They set an “overweight” rating and a $39.00 price objective on the stock. Sanford C. Bernstein began coverage on Stellantis in a research report on Friday. They issued a “market perform” rating and a $23.50 target price on the stock. Berenberg Bank reissued a “hold” rating on shares of Stellantis in a research report on Tuesday, March 26th. Barclays raised Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Finally, Morgan Stanley lifted their target price on Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Stellantis currently has a consensus rating of “Moderate Buy” and an average target price of $29.55.

Stellantis Stock Performance

NYSE:STLA opened at $19.85 on Friday. Stellantis has a twelve month low of $17.19 and a twelve month high of $29.51. The stock’s 50 day moving average price is $22.04 and its two-hundred day moving average price is $23.93. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.24.

Stellantis Announces Dividend

The business 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. This represents a dividend yield of 4.55%. The ex-dividend date of this dividend was Monday, April 22nd.

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.