Generali Investments Towarzystwo Funduszy Inwestycyjnych Acquires 40 Shares of Ferrari (NYSE:RACE)

Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its holdings in Ferrari (NYSE:RACE) by 14.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 310 shares of the company’s stock after purchasing an additional 40 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Ferrari were worth $133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after buying an additional 2,636,869 shares during the last quarter. Quadrature Capital Ltd grew its stake in Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after buying an additional 105,390 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Ferrari by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after buying an additional 104,366 shares during the last quarter. Temasek Holdings Private Ltd bought a new stake in Ferrari during the third quarter worth about $43,801,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Ferrari by 101.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 155,900 shares of the company’s stock worth $73,290,000 after purchasing an additional 78,400 shares in the last quarter.

Ferrari Stock Down 4.2 %

Shares of NYSE:RACE opened at $459.90 on Friday. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company has a market capitalization of $112.10 billion, a PE ratio of 50.26, a PEG ratio of 4.43 and a beta of 0.95. The company has a 50 day moving average price of $449.10 and a two-hundred day moving average price of $456.54.

Ferrari Increases Dividend

The company 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 $3.1265 dividend. This represents a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is presently 5.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

About Ferrari

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.