Illumine Investment Management LLC Makes New $656,000 Investment in Ferrari (NYSE:RACE)

Illumine Investment Management LLC acquired a new stake in Ferrari (NYSE:RACE - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,544 shares of the company's stock, valued at approximately $656,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in shares of Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company's stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. Bank of Italy boosted its position in shares of Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company's stock valued at $1,002,392,000 after acquiring an additional 63,675 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock valued at $684,888,000 after acquiring an additional 38,356 shares during the period. Swiss National Bank boosted its position in shares of Ferrari by 0.5% in the third quarter. Swiss National Bank now owns 377,857 shares of the company's stock valued at $177,157,000 after acquiring an additional 1,914 shares during the period. Finally, Barclays PLC boosted its position in shares of Ferrari by 6.1% in the third quarter. Barclays PLC now owns 286,564 shares of the company's stock valued at $134,719,000 after acquiring an additional 16,428 shares during the period.

Ferrari Price Performance

RACE traded down $0.71 on Monday, hitting $463.86. 685,426 shares of the stock were exchanged, compared to its average volume of 275,327. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The business has a 50-day moving average of $450.52 and a two-hundred day moving average of $457.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market capitalization of $112.43 billion, a price-to-earnings ratio of 50.70, a PEG ratio of 4.43 and a beta of 0.95.

Ferrari Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RACE. Barclays cut shares of Ferrari from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating for the company. UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.