Allianz SE Purchases 1,921 Shares of Ferrari N.V. $RACE

Allianz SE grew its position in shares of Ferrari N.V. (NYSE:RACE) by 5.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 34,392 shares of the company’s stock after buying an additional 1,921 shares during the quarter. Allianz SE’s holdings in Ferrari were worth $16,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. bought a new stake in shares of Ferrari during the 3rd quarter worth $27,000. Westside Investment Management Inc. raised its stake in Ferrari by 100.0% during the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after acquiring an additional 28 shares in the last quarter. Root Financial Partners LLC acquired a new position in Ferrari during the third quarter worth about $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of Ferrari in the second quarter worth about $30,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Ferrari in the 2nd quarter valued at approximately $34,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RACE. Loop Capital set a $481.67 price objective on shares of Ferrari in a research report on Thursday, December 4th. Oddo Bhf downgraded shares of Ferrari to a “neutral” rating in a report on Wednesday, December 10th. Morgan Stanley set a $420.00 price objective on Ferrari in a report on Monday, February 16th. UBS Group dropped their target price on Ferrari from $563.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Finally, Barclays set a $420.00 price target on Ferrari and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $476.52.

Ferrari Price Performance

Shares of RACE opened at $379.99 on Friday. The firm has a market cap of $88.90 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 3.66 and a beta of 0.99. Ferrari N.V. has a 52-week low of $328.00 and a 52-week high of $519.10. The business’s 50 day moving average price is $360.39 and its two-hundred day moving average price is $406.24. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.38 and a current ratio of 5.70.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 21st will be paid a dividend of $3.615 per share. This is a boost from Ferrari’s previous annual dividend of $3.13. This represents a yield of 99.0%. The ex-dividend date of this dividend is Tuesday, April 21st.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.