Generali Asset Management SPA SGR Makes New $15.69 Million Investment in Ferrari (NYSE:RACE)

Generali Asset Management SPA SGR acquired a new position in Ferrari (NYSE:RACE) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 38,055 shares of the company’s stock, valued at approximately $15,694,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sapient Capital LLC lifted its holdings in Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after buying an additional 653 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ferrari in the 4th quarter valued at about $3,371,000. Allworth Financial LP raised its stake in shares of Ferrari by 35.1% in 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after purchasing an additional 38,356 shares in the last quarter.

Ferrari Stock Up 1.2 %

Shares of NYSE:RACE opened at $454.62 on Tuesday. 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 company has a market cap of $110.19 billion, a PE ratio of 49.68, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The firm has a 50 day simple moving average of $454.94 and a 200 day simple moving average of $455.09.

Ferrari Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RACE shares. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Finally, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari currently 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.