Generali Investments CEE investicni spolecnost a.s. Purchases New Stake in Ferrari (NYSE:RACE)

Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ferrari (NYSE:RACE) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 7,900 shares of the company’s stock, valued at approximately $3,371,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Elite Wealth Management Inc. raised its holdings in Ferrari by 1.0% in the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after acquiring an additional 25 shares in the last quarter. Addison Advisors LLC increased its stake in Ferrari by 13.6% during the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares during the last quarter. Caprock Group LLC increased its stake in Ferrari by 1.7% during the third quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock valued at $857,000 after purchasing an additional 31 shares during the last quarter. Finally, EWA LLC increased its stake in Ferrari by 6.6% during the third quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after purchasing an additional 32 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Up 0.8 %

Ferrari stock opened at $450.14 on Friday. The company has a 50-day simple moving average of $452.18 and a 200-day simple moving average of $456.95. The firm has a market capitalization of $109.10 billion, a P/E ratio of 49.20, a P/E/G ratio of 4.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a one year low of $399.27 and a one year high of $509.13.

Ferrari Increases Dividend

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

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.