Ferrari N.V. $RACE Shares Purchased by Allianz SE

Allianz SE boosted its position in Ferrari N.V. (NYSE:RACE) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,392 shares of the company’s stock after purchasing an additional 1,921 shares during the period. Allianz SE’s holdings in Ferrari were worth $16,688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whalerock Point Partners LLC purchased a new position in shares of Ferrari in the third quarter worth approximately $376,000. Telligent Fund LP boosted its stake in Ferrari by 17.2% in the 3rd quarter. Telligent Fund LP now owns 7,500 shares of the company’s stock worth $3,639,000 after purchasing an additional 1,100 shares during the period. Choreo LLC grew its position in Ferrari by 1.9% during the 3rd quarter. Choreo LLC now owns 3,078 shares of the company’s stock worth $1,494,000 after purchasing an additional 58 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in Ferrari by 22.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 593 shares of the company’s stock valued at $288,000 after purchasing an additional 108 shares during the period. Finally, GCQ FUNDS MANAGEMENT PTY Ltd raised its stake in Ferrari by 27.3% during the 3rd quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 22,993 shares of the company’s stock valued at $11,157,000 after purchasing an additional 4,931 shares during the period.

Ferrari Price Performance

Shares of NYSE RACE opened at $379.99 on Friday. The company has a quick ratio of 4.38, a current ratio of 5.70 and a debt-to-equity ratio of 0.74. 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 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 twelve month low of $328.00 and a twelve month high of $519.10.

Ferrari Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein reiterated an “outperform” rating and set a $410.00 price target on shares of Ferrari in a report on Wednesday, February 11th. BNP Paribas Exane upgraded Ferrari to a “strong-buy” rating in a report on Thursday, December 11th. Barclays set a $420.00 price target on shares of Ferrari and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Loop Capital set a $481.67 price objective on shares of Ferrari in a research note on Thursday, December 4th. Finally, Oddo Bhf lowered shares of Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and an average price target of $476.52.

About Ferrari

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.