Allianz SE Raises Holdings in Ferrari N.V. (NYSE:RACE)

Key Points

• Allianz SE has increased its stake in Ferrari N.V. by 21.4%, owning 24,522 shares worth approximately $10.49 million as of the latest SEC filing.
• Filings indicate significant interest in Ferrari from institutional investors, with Price T Rowe Associates and Barclays PLC increasing their holdings by 49.5% and 198.0%, respectively.
• Ferrari reported earnings of $2.70 per share for the last quarter, surpassing estimates, with revenues increasing by 4.4% year-over-year.

Allianz SE increased its position in Ferrari N.V. (NYSE:RACE - Free Report) by 21.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,522 shares of the company's stock after acquiring an additional 4,330 shares during the period. Allianz SE's holdings in Ferrari were worth $10,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after buying an additional 594,547 shares during the last quarter. Barclays PLC grew its holdings in Ferrari by 198.0% during the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after buying an additional 567,407 shares during the last quarter. Marshall Wace LLP grew its holdings in Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after buying an additional 520,337 shares during the last quarter. Banco Santander S.A. lifted its stake in shares of Ferrari by 35.3% during the 1st quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock worth $240,040,000 after purchasing an additional 146,279 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Ferrari by 270.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 164,235 shares of the company's stock worth $69,774,000 after purchasing an additional 119,911 shares during the period.

Ferrari Stock Down 1.5%

Shares of Ferrari stock opened at $436.54 on Friday. The business has a 50-day moving average of $484.02 and a 200-day moving average of $465.04. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.04. The company has a market capitalization of $105.81 billion, a PE ratio of 45.05, a P/E/G ratio of 4.78 and a beta of 1.09. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 46.22% and a net margin of 22.95%. The company had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group lifted their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari 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.

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