Allianz SE Makes New $8.61 Million Investment in Ferrari (NYSE:RACE)

Allianz SE recently invested in Ferrari (NYSE:RACE - Free Report) by acquiring a new stake in the company during the fourth quarter. The investment involved the purchase of 20,192 shares, totaling approximately $8.61 million.

In addition to Allianz SE, various other hedge funds and institutional investors have made adjustments to their holdings in Ferrari. For instance, Hanson & Doremus Investment Management acquired a new stake worth about $26,000 in the fourth quarter. Hobbs Group Advisors LLC made a new investment in the third quarter, valued around $47,000. Furthermore, Armstrong Advisory Group Inc. doubled its holdings in Ferrari, now owning 100 shares valued at $42,000, after acquiring an additional 50 shares. Kestra Investment Management LLC and Plato Investment Management Ltd also entered new positions in Ferrari during the fourth quarter, with investments worth $45,000 and $53,000, respectively.

Wall Street Analysts Provide Positive Outlook

On the analyst front, several experts have shared their views on Ferrari’s stock performance. In a recent report, Kepler Capital Markets upgraded Ferrari from a "hold" to a "buy" rating. Similarly, Barclays changed its rating from "equal weight" to "overweight." Deutsche Bank Aktiengesellschaft has initiated coverage on the stock and issued a "hold" rating. JPMorgan Chase & Co. adjusted their price target for Ferrari from $525.00 to $460.00 while maintaining an "overweight" rating. StockNews.com also upgraded Ferrari from a "hold" to a "buy" rating. As a result, the stock currently holds an average rating of "Moderate Buy" and a consensus price target of $497.86 according to MarketBeat data.

Ferrari Stock Performance and Financial Health

As of Friday, Ferrari's stock opened at $429.93. The company has a debt-to-equity ratio of 0.93, with a current ratio of 4.57 and a quick ratio of 3.55. Notably, Ferrari's stock has experienced a 12-month low of $399.27 and a high of $509.13. The stock has a market capitalization of $104.21 billion, a P/E ratio of 46.99, and a P/E/G ratio of 4.43.

Dividend Announcement from Ferrari

Recently, Ferrari announced an increase in its annual dividend, set to be paid on May 6th. Shareholders of record by April 23rd will receive $3.1265 per share, up from the previous annual dividend of $2.44. The ex-dividend date for this payment is April 23rd, representing a yield of about 0.5%. Ferrari's current dividend payout ratio stands at 5.63%.

About Ferrari

Ferrari N.V. is engaged in the design, engineering, production, and sale of luxury performance sports cars globally. The company offers a diverse range of vehicles including special series, Icona, supercars, and limited edition models. Additionally, Ferrari provides spare parts, maintenance, and restoration services, and licenses its brand for luxury and lifestyle goods.

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