Argentarii LLC Acquires 3,201 Shares of Ferrari (NYSE:RACE)

Argentarii LLC has recently made a significant investment in Ferrari (NYSE:RACE) by acquiring a new position in the company's shares during the fourth quarter. According to the latest 13F filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 3,201 shares, which are valued at approximately $1,360,000.

Updates from Other Investors

Other large institutional investors have also been active in adjusting their positions with Ferrari. For instance, Jennison Associates LLC made a notable increase of 910.1% in its stake during the third quarter. After acquiring an additional 2,636,869 shares, Jennison now holds a total of 2,926,616 shares valued at $1,368,622,000.

Additionally, the Bank of Italy increased its holdings by 2.8% in the fourth quarter, bringing its total to 2,339,620 shares valued at $1,002,392,000 after purchasing 63,675 shares in the last quarter.

Bank of New York Mellon Corp also raised its stake by 2.4%, now owning 1,612,108 shares worth $684,888,000 after buying 38,356 shares. Similarly, Banco Santander S.A. increased its holdings by 4.2%, acquiring an additional 16,663 shares to hold a total of 414,720 shares valued at $176,190,000.

Swiss National Bank slightly boosted its shares by 0.5%, owning 377,857 shares valued at $177,157,000 following the acquisition of 1,914 shares.

Analyst Ratings

In the space of equity research, several analysts have recently conducted evaluations of Ferrari's stock. StockNews.com downgraded the company's rating from "buy" to "hold" on March 4th. Subsequently, Barclays also shifted its rating from "overweight" to "equal weight" on February 5th. Deutsche Bank Aktiengesellschaft moved into coverage of Ferrari on February 6th with a "hold" rating. Overall, four analysts have rated the stock as a hold while six others recommended a buy. According to MarketBeat, Ferrari has a consensus rating labeled as a "Moderate Buy" and an average price target of $507.14.

Current Stock Performance

As for Ferrari's performance on the market, shares opened at $450.14. The stock's closing values reflect a fifty-day moving average price of $452.18 and a 200-day moving average price of $456.88. The company's market capitalization stands at $109.10 billion, with a PE ratio of 49.20 and a P/E/G ratio of 4.43. The debt-to-equity ratio is measured at 0.93, with a current ratio of 4.57 and a quick ratio of 3.55. Over the past year, Ferrari's stock has fluctuated, with a low of $399.27 and a high of $509.13.

Dividend Announcement

Recently, Ferrari announced an annual dividend set to be paid on May 6th. Shareholders of record as of April 23rd will receive a dividend of $3.1265, which represents an increase from the previous annual dividend of $2.44. The ex-dividend date is also April 23rd, reflecting a yield of 0.5%. Currently, Ferrari's dividend payout ratio stands at 5.63%.

About Ferrari

Ferrari N.V. specializes in the design, engineering, production, and sale of luxury performance sports cars on a global scale. The company offers a variety of products including range series, special series, Icona, supercars, limited edition vehicles, track cars, racing cars, spare parts, and also provides post-sales services including maintenance and restoration.

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