MetLife Investment Management LLC Buys 3,474 Shares of Ferrari (NYSE:RACE)

MetLife Investment Management LLC raised its position in Ferrari (NYSE:RACE - Free Report) by 30.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 14,780 shares of the company's stock after buying an additional 3,474 shares during the period. MetLife Investment Management LLC's holdings in Ferrari were worth $6,332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Ferrari by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock valued at $2,002,581,000 after acquiring an additional 45,754 shares during the last quarter. Bank of Italy boosted its stake in shares of Ferrari by 2.8% in the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company's stock valued at $1,002,392,000 after purchasing an additional 63,675 shares during the last quarter. Norges Bank acquired a new stake in shares of Ferrari during the 4th quarter worth approximately $697,226,000. Bank of New York Mellon Corp raised its stake in shares of Ferrari by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock worth $684,888,000 after buying an additional 38,356 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after buying an additional 520,337 shares during the period.

Ferrari Stock Up 2.9 %

Ferrari stock opened at $447.27 on Wednesday. The company has a 50 day moving average of $448.42 and a 200-day moving average of $447.22. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The stock has a market capitalization of $108.41 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The company also recently declared 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 is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari's dividend payout ratio (DPR) is currently 5.63%.

Analysts Set New Price Targets

RACE has been the subject of several recent research reports. StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. UBS Group reduced their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $481.60.

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.

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