Prosperity Financial Group Inc. Raises Stock Holdings in Ferrari (NYSE:RACE)

Prosperity Financial Group Inc. increased its stake in shares of Ferrari (NYSE:RACE) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,281 shares of the company’s stock after purchasing an additional 286 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Ferrari were worth $969,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI lifted its stake in shares of Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares during the last quarter. Argentarii LLC acquired a new position in Ferrari during the 4th quarter valued at about $1,360,000. Dorsey & Whitney Trust CO LLC increased its position in Ferrari by 2.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,624 shares of the company’s stock valued at $690,000 after buying an additional 35 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Ferrari during the 4th quarter valued at about $3,371,000. Finally, Banco Santander S.A. increased its position in Ferrari by 4.2% during the 4th quarter. Banco Santander S.A. now owns 414,720 shares of the company’s stock valued at $176,190,000 after buying an additional 16,663 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Up 1.3 %

Ferrari stock opened at $442.66 on Wednesday. The firm has a market cap of $107.29 billion, a price-to-earnings ratio of 48.38, a price-to-earnings-growth 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 business’s 50-day moving average price is $452.75 and its 200 day moving average price is $456.16. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio (DPR) is 5.63%.

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.