Allianz SE Makes New Investment in Ferrari (NYSE:RACE)

Allianz SE acquired a new stake in Ferrari (NYSE:RACE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 20,192 shares of the company's stock, valued at approximately $8,611,000.

Other institutional investors have also recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new position in shares of Ferrari during the 4th quarter worth approximately $853,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Ferrari by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after buying an additional 755 shares during the last quarter. Sapient Capital LLC grew its stake in Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock valued at $28,737,000 after buying an additional 653 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ferrari during the fourth quarter worth approximately $3,371,000. Finally, Allworth Financial LP boosted its holdings in shares of Ferrari by 35.1% during the fourth quarter. Allworth Financial LP now owns 327 shares of the company's stock worth $141,000 after acquiring an additional 85 shares during the period.

Ferrari Price Performance

NYSE RACE traded up $3.40 on Tuesday, hitting $431.28. 289,188 shares of the company's stock were exchanged, compared to its average volume of 305,687. The stock has a 50-day moving average of $455.85 and a 200-day moving average of $451.90. The stock has a market cap of $104.53 billion, a price-to-earnings ratio of 47.09, a P/E/G ratio of 4.43 and a beta of 0.94. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

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Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari's payout ratio is presently 5.63%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RACE. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating on the stock. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday. Finally, UBS Group cut their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $498.86.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.