Cigna Investments Inc. New Reduces Position in Stellantis (NYSE:STLA)

Cigna Investments Inc. New trimmed its stake in Stellantis (NYSE:STLA) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,943 shares of the company’s stock after selling 1,271 shares during the quarter. Cigna Investments Inc. New’s holdings in Stellantis were worth $553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in STLA. Capital International Investors boosted its position in Stellantis by 329.3% during the first quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock worth $639,609,000 after acquiring an additional 17,261,955 shares during the last quarter. Capital World Investors lifted its stake in shares of Stellantis by 63.4% during the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock worth $390,811,000 after purchasing an additional 5,336,868 shares during the period. M&G Plc acquired a new stake in shares of Stellantis during the first quarter worth $128,254,000. Dnca Finance purchased a new stake in shares of Stellantis in the second quarter valued at $75,331,000. Finally, ANTIPODES PARTNERS Ltd increased its stake in Stellantis by 184,881.3% in the first quarter. ANTIPODES PARTNERS Ltd now owns 3,089,187 shares of the company’s stock valued at $87,424,000 after purchasing an additional 3,087,517 shares during the last quarter. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stellantis

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

STLA has been the topic of a number of research analyst reports. Barclays lowered Stellantis from an “overweight” rating to an “equal weight” rating in a research note on Thursday, October 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $16.44 target price (down from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Stellantis from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Stellantis presently has a consensus rating of “Hold” and a consensus target price of $27.34.

Stellantis Stock Performance

Shares of STLA stock opened at $13.70 on Friday. The company’s fifty day simple moving average is $14.55 and its 200-day simple moving average is $18.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. Stellantis has a 52 week low of $12.74 and a 52 week high of $29.51.

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.