Sei Investments Co. Raises Position in Ferrari (NYSE:RACE)

Sei Investments Co. raised its position in shares of Ferrari (NYSE:RACE) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,674 shares of the company’s stock after acquiring an additional 5,805 shares during the quarter. Sei Investments Co.’s holdings in Ferrari were worth $20,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RACE. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. lifted its position in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares during the period. Kestra Investment Management LLC purchased a new position in Ferrari during the fourth quarter valued at $45,000. Hobbs Group Advisors LLC bought a new stake in shares of Ferrari during the 3rd quarter valued at $47,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Ferrari in the 4th quarter worth about $53,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $497.86.

Ferrari Stock Up 3.1 %

RACE stock opened at $426.66 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13. The stock has a market capitalization of $103.41 billion, a P/E ratio of 46.63, a P/E/G ratio of 4.43 and a beta of 0.94. The business has a fifty day moving average price of $456.12 and a 200-day moving average price of $452.75.

Ferrari Increases Dividend

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