Sei Investments Co. Purchases 5,805 Shares of Ferrari (NYSE:RACE)

Sei Investments Co. increased its position in Ferrari (NYSE:RACE) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 47,674 shares of the company’s stock after acquiring an additional 5,805 shares during the quarter. Sei Investments Co.’s holdings in Ferrari were worth $20,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in Ferrari by 11.5% during the fourth quarter. American Century Companies Inc. now owns 6,239 shares of the company’s stock valued at $2,651,000 after buying an additional 642 shares during the last quarter. Virtu Financial LLC raised its holdings in Ferrari by 592.8% in the 4th quarter. Virtu Financial LLC now owns 4,635 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,966 shares during the period. Quantbot Technologies LP raised its holdings in Ferrari by 82.2% in the 4th quarter. Quantbot Technologies LP now owns 19,903 shares of the company’s stock worth $8,456,000 after purchasing an additional 8,977 shares during the period. Independent Solutions Wealth Management LLC lifted its position in Ferrari by 1.9% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 3,667 shares of the company’s stock valued at $1,558,000 after purchasing an additional 67 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Ferrari by 41.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,787 shares of the company’s stock valued at $759,000 after purchasing an additional 527 shares during the period.

Ferrari Price Performance

RACE stock opened at $426.66 on Friday. 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’s fifty day moving average price is $456.12 and its 200-day moving average price is $452.75. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company has a market capitalization of $103.41 billion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $497.86.

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.