Prudential PLC Purchases 2,723 Shares of Ferrari (NYSE:RACE)

Prudential PLC increased its position in Ferrari (NYSE:RACE - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,630 shares of the company's stock after purchasing an additional 2,723 shares during the quarter. Prudential PLC's holdings in Ferrari were worth $4,108,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RACE. Vanguard Group Inc. lifted its position in Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after purchasing an additional 45,754 shares during the period. Bank of Italy increased its stake in 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 last quarter. Norges Bank acquired a new position in Ferrari during the fourth quarter valued at approximately $697,226,000. Bank of New York Mellon Corp lifted its stake in 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 purchasing an additional 38,356 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of Ferrari by 6.4% in the 4th quarter. William Blair Investment Management LLC now owns 594,657 shares of the company's stock valued at $252,634,000 after purchasing an additional 35,525 shares in the last quarter.

Analyst Ratings Changes

RACE has been the subject of several recent analyst reports. UBS Group dropped their price objective on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They set a "hold" rating for the company. Finally, StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $490.29.

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Ferrari Trading Up 8.7 %

Shares of NYSE:RACE traded up $34.79 during trading on Wednesday, reaching $432.65. The stock had a trading volume of 1,022,513 shares, compared to its average volume of 322,854. Ferrari has a 52 week low of $391.54 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 firm's fifty day moving average is $453.58 and its 200 day moving average is $449.10. The stock has a market cap of $104.86 billion, a price-to-earnings ratio of 47.28, a P/E/G ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This represents a dividend yield of 0.5%. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari's 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.