Prudential PLC Has $4.11 Million Stock Holdings in Ferrari (NYSE:RACE)

Prudential PLC raised its position in shares of Ferrari (NYSE:RACE) by 39.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,630 shares of the company’s stock after purchasing an additional 2,723 shares during the period. Prudential PLC’s holdings in Ferrari were worth $4,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in shares of Ferrari by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock worth $4,307,000 after buying an additional 755 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Ferrari during the fourth quarter worth about $853,000. Sapient Capital LLC lifted its holdings in shares of Ferrari by 1.0% in the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after acquiring an additional 653 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ferrari in the 4th quarter valued at approximately $3,371,000. Finally, Allworth Financial LP grew its holdings in shares of Ferrari by 35.1% during the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after purchasing an additional 85 shares during the last quarter.

Ferrari Price Performance

Shares of RACE opened at $414.50 on Friday. The business has a 50-day moving average of $455.45 and a 200-day moving average of $450.97. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The company has a market capitalization of $100.47 billion, a price-to-earnings ratio of 45.30, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is 5.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RACE shares. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. UBS Group reduced their price objective on Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $490.29.

Ferrari Company 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.