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

Cigna Investments Inc. New reduced its position in Stellantis (NYSE:STLA) by 3.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 39,943 shares of the company’s stock after selling 1,271 shares during the period. Cigna Investments Inc. New’s holdings in Stellantis were worth $553,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mediolanum International Funds Ltd boosted its stake in Stellantis by 17.4% during the 3rd quarter. Mediolanum International Funds Ltd now owns 670,893 shares of the company’s stock worth $9,426,000 after purchasing an additional 99,388 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Stellantis by 47.1% during the third quarter. Sound Income Strategies LLC now owns 280,010 shares of the company’s stock worth $3,934,000 after buying an additional 89,594 shares during the period. Capital Research Global Investors grew its holdings in shares of Stellantis by 5.2% during the first quarter. Capital Research Global Investors now owns 1,203,915 shares of the company’s stock worth $34,218,000 after buying an additional 59,169 shares during the last quarter. Sei Investments Co. increased its position in Stellantis by 39.2% in the 1st quarter. Sei Investments Co. now owns 213,716 shares of the company’s stock valued at $6,048,000 after acquiring an additional 60,177 shares during the period. Finally, Bank of Montreal Can raised its stake in Stellantis by 62.1% during the 2nd quarter. Bank of Montreal Can now owns 1,278,551 shares of the company’s stock valued at $25,379,000 after acquiring an additional 489,932 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

Stellantis Price Performance

STLA stock opened at $13.70 on Friday. The firm has a 50 day moving average of $14.55 and a 200-day moving average of $18.40. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Stellantis has a 12-month low of $12.74 and a 12-month high of $29.51.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STLA. Deutsche Bank Aktiengesellschaft lowered Stellantis from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays cut shares of Stellantis from an “overweight” rating to an “equal weight” rating in a research note on Thursday, October 3rd. Nomura Securities upgraded shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Nomura upgraded shares of Stellantis from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $16.44 price target (down from $27.30) on shares of Stellantis in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Stellantis currently has an average rating of “Hold” and an average target price of $27.34.

Insider Activity at Stellantis

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

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.