Aviva PLC grew its stake in shares of Ferrari (NYSE:RACE - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,139 shares of the company's stock after acquiring an additional 2,162 shares during the period. Aviva PLC's holdings in Ferrari were worth $46,160,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd increased its holdings in shares of Ferrari by 16.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 2,045 shares of the company's stock valued at $869,000 after acquiring an additional 289 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Ferrari by 3.9% in the fourth quarter. Wells Fargo & Company MN now owns 146,289 shares of the company's stock worth $62,149,000 after purchasing an additional 5,494 shares during the period. Prudential PLC increased its stake in Ferrari by 39.4% during the fourth quarter. Prudential PLC now owns 9,630 shares of the company's stock valued at $4,108,000 after purchasing an additional 2,723 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Ferrari by 65.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 7,361 shares of the company's stock worth $3,127,000 after purchasing an additional 2,902 shares during the period. Finally, Groupama Asset Managment lifted its position in shares of Ferrari by 6.6% in the 4th quarter. Groupama Asset Managment now owns 58,494 shares of the company's stock worth $24,123,000 after buying an additional 3,636 shares during the last quarter.
Ferrari Price Performance
RACE traded up $34.79 on Wednesday, reaching $432.65. The company had a trading volume of 1,022,513 shares, compared to its average volume of 322,854. Ferrari has a one year low of $391.54 and a one year high of $509.13. The company has a market capitalization of $104.86 billion, a P/E ratio of 47.28, a PEG ratio of 4.43 and a beta of 1.03. The company has a fifty day moving average of $453.58 and a 200-day moving average of $449.10. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.
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 given a $3.1265 dividend. This represents a yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari's dividend payout ratio is 5.63%.
Wall Street Analyst Weigh In
RACE has been the subject of a number of recent research reports. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, UBS Group cut their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $490.29.
Check Out Our Latest Report on Ferrari
About Ferrari
(
Free Report)
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.
See Also
Before you consider Ferrari, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ferrari wasn't on the list.
While Ferrari currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
