Stellantis (NYSE:STLA) Shares Purchased by PNC Financial Services Group Inc.

Posted by Defense World Staff on Jun 3rd, 2023

PNC Financial Services Group Inc. boosted its holdings in Stellantis (NYSE:STLA – Get Rating) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,602 shares of the company’s stock after buying an additional 2,628 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Stellantis were worth $619,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Stellantis by 2.7% in the third quarter. Vanguard Group Inc. now owns 72,487,855 shares of the company’s stock worth $858,256,000 after buying an additional 1,909,993 shares during the last quarter. Marshall Wace LLP grew its position in Stellantis by 366.4% in the third quarter. Marshall Wace LLP now owns 15,755,514 shares of the company’s stock worth $189,249,000 after buying an additional 12,377,760 shares during the last quarter. M&G Investment Management Ltd. grew its position in Stellantis by 10.1% in the fourth quarter. M&G Investment Management Ltd. now owns 6,276,541 shares of the company’s stock worth $87,351,000 after buying an additional 576,389 shares during the last quarter. Renaissance Technologies LLC grew its position in Stellantis by 922.4% in the third quarter. Renaissance Technologies LLC now owns 5,399,526 shares of the company’s stock worth $64,361,000 after buying an additional 4,871,396 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in Stellantis during the 4th quarter worth approximately $67,184,000. Institutional investors and hedge funds own 32.95% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upgraded shares of Stellantis from a “sector perform” rating to an “outperform” rating in a research report on Friday, March 3rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Stellantis Price Performance

NYSE STLA opened at $15.87 on Friday. The firm’s 50 day moving average price is $16.91 and its two-hundred day moving average price is $16.24. Stellantis has a twelve month low of $11.37 and a twelve month high of $18.97. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Stellantis Company Profile

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Stellantis NV engages in the design, manufacture, distribution, and sale of vehicles. It offers its products under the Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Opel, Peugeot, Ram, and Vauxhall brands. The company was founded on April 01, 2014 and is headquartered in Hoofddorp, the Netherlands.