Allianz SE Invests in Ferrari with $8.61 Million Stake

Allianz SE has made a significant investment in Ferrari (NYSE:RACE) during the fourth quarter, according to a recent filing with the SEC. The company acquired 20,192 shares of Ferrari's stock, which is worth about $8,611,000.

In addition to Allianz, several other hedge funds and institutional investors have also recently adjusted their holdings in Ferrari. Hanson & Doremus Investment Management has taken a new position valued at approximately $26,000. Similarly, Hobbs Group Advisors LLC invested around $47,000 in Ferrari during the third quarter. Armstrong Advisory Group Inc. doubled its ownership in the fourth quarter, now holding 100 shares valued at $42,000 after purchasing an additional 50 shares. Kestra Investment Management LLC added a $45,000 stake, while Plato Investment Management Ltd entered with a value of $53,000 in the same quarter.

Wall Street Analysts' Insights

Recent analyst ratings for Ferrari indicate a bullish outlook on the stock. Kepler Capital Markets upgraded Ferrari from a 'hold' to a 'buy' rating. Barclays also raised their rating from 'equal weight' to 'overweight.' Likewise, Deutsche Bank Aktiengesellschaft initiated coverage with a 'hold' rating. Meanwhile, JPMorgan Chase & Co. reduced their price target for Ferrari from $525.00 to $460.00, maintaining an 'overweight' rating. Furthermore, StockNews.com upgraded the stock from 'hold' to 'buy.' In total, two analysts have given a hold recommendation, while nine have rated it as a buy. As per data from MarketBeat, the average rating for Ferrari is 'Moderate Buy' with an average price target of $497.86.

Ferrari Stock Performance

As of Friday, Ferrari's stock opened at $429.93, reflecting a 0.7% increase. The company's financial ratios include a debt-to-equity ratio of 0.93, a current ratio of 4.57, and a quick ratio of 3.55. Over the past year, Ferrari's stock has fluctuated between a low of $399.27 and a high of $509.13. The 50-day moving average for the stock is $456.00, while the 200-day moving average stands at $452.46. Currently, Ferrari holds a market capitalization of $104.21 billion, a P/E ratio of 46.99, and a P/E/G ratio of 4.43.

Dividend Increase Announced

Recently, Ferrari announced an increase in their annual dividend, which is set to be paid on Tuesday, May 6th. Shareholders recorded on Wednesday, April 23rd, will receive a dividend of $3.1265 per share, up from the previous year's dividend of $2.44. The ex-dividend date is also April 23rd, leading to a yield of 0.5%. Ferrari's current dividend payout ratio (DPR) is 5.63%.

About Ferrari

Ferrari N.V. operates globally through its subsidiaries, engaging in the design, engineering, production, and sale of luxury performance sports cars. The company offers a variety of products, including special series, limited edition supercars, and track cars. Additionally, Ferrari provides spare parts, maintenance, repair, and restoration services for its vehicles. The firm also licenses its brand for luxury lifestyle goods.

investment, stocks, Ferrari