Bank of Italy reduced its stake in shares of Fiat Chrysler Automobiles NV (NYSE:FCAU) by 9.9% during the first quarter, HoldingsChannel.com reports. The firm owned 6,923,078 shares of the company’s stock after selling 763,392 shares during the quarter. Fiat Chrysler Automobiles makes up approximately 5.3% of Bank of Italy’s portfolio, making the stock its 5th biggest position. Bank of Italy’s holdings in Fiat Chrysler Automobiles were worth $103,231,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of FCAU. Norges Bank purchased a new stake in shares of Fiat Chrysler Automobiles in the 4th quarter worth about $173,203,000. Harris Associates L P grew its position in shares of Fiat Chrysler Automobiles by 8.3% in the 4th quarter. Harris Associates L P now owns 63,059,845 shares of the company’s stock worth $911,845,000 after buying an additional 4,846,035 shares during the period. Greenhaven Associates Inc. purchased a new stake in shares of Fiat Chrysler Automobiles in the 1st quarter worth about $25,500,000. Vanguard Group Inc grew its position in shares of Fiat Chrysler Automobiles by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 31,221,379 shares of the company’s stock worth $546,687,000 after buying an additional 654,779 shares during the period. Finally, Banco Santander S.A. grew its position in shares of Fiat Chrysler Automobiles by 1,436.5% in the 4th quarter. Banco Santander S.A. now owns 662,311 shares of the company’s stock worth $9,617,000 after buying an additional 619,205 shares during the period. 27.02% of the stock is currently owned by institutional investors and hedge funds.
FCAU has been the topic of a number of recent research reports. ValuEngine raised shares of Fiat Chrysler Automobiles from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 1st. Jefferies Financial Group downgraded shares of Fiat Chrysler Automobiles to a “hold” rating in a research report on Tuesday, April 2nd. Zacks Investment Research downgraded shares of Fiat Chrysler Automobiles from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 5th. Barclays downgraded shares of Fiat Chrysler Automobiles from an “overweight” rating to an “equal weight” rating and set a $15.23 target price on the stock. in a research report on Friday, February 8th. Finally, UBS Group downgraded shares of Fiat Chrysler Automobiles from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.74.
Fiat Chrysler Automobiles (NYSE:FCAU) last released its earnings results on Friday, May 3rd. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.08). The business had revenue of $24.50 billion during the quarter, compared to analysts’ expectations of $25.70 billion. Fiat Chrysler Automobiles had a return on equity of 18.57% and a net margin of 2.85%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. On average, analysts forecast that Fiat Chrysler Automobiles NV will post 2.87 EPS for the current fiscal year.
The company also recently declared an annual dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, May 21st will be paid a $1.30 dividend. This is a boost from Fiat Chrysler Automobiles’s previous annual dividend of $0.74. The ex-dividend date of this dividend is Monday, May 20th. This represents a yield of 8.2%.
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Fiat Chrysler Automobiles Company Profile
Fiat Chrysler Automobiles N.V., together with its subsidiaries, designs, engineers, manufactures, distributes, and sells vehicles, components, and production systems. The company operates through five segments: NAFTA, LATAM, APAC, EMEA, and Maserati. It provides passenger cars, SUV vehicles, trucks, and light commercial vehicles under the Jeep, Ram, Dodge, Chrysler, Fiat, Fiat Professional, Alfa Romeo, and Abarth brands; and luxury vehicles under the Maserati brand, as well as related service parts and accessories, and service contracts under the Mopar brand.
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