Stellantis (NYSE:STLA) Shares Bought by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI raised its stake in Stellantis (NYSE:STLA) by 61.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,923,653 shares of the company’s stock after buying an additional 735,096 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Stellantis were worth $26,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in shares of Stellantis during the second quarter valued at $25,000. ORG Partners LLC acquired a new position in shares of Stellantis during the second quarter valued at $38,000. Waldron Private Wealth LLC acquired a new position in Stellantis during the 3rd quarter valued at about $33,000. Central Pacific Bank Trust Division acquired a new position in Stellantis during the 3rd quarter valued at about $35,000. Finally, Ridgewood Investments LLC acquired a new position in Stellantis during the 2nd quarter valued at about $54,000. Institutional investors and hedge funds own 59.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on STLA. Royal Bank of Canada reiterated a “sector perform” rating on shares of Stellantis in a research report on Friday, October 4th. Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a research report on Thursday, September 5th. Barclays lowered shares of Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI began coverage on shares of Stellantis in a research report on Monday, November 11th. They set an “inline” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.34.

Stellantis Price Performance

Shares of NYSE STLA opened at $13.66 on Friday. Stellantis has a twelve month low of $12.12 and a twelve month high of $29.51. 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 firm has a 50-day moving average of $13.27 and a two-hundred day moving average of $16.62.

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.