Generali Asset Management SPA SGR Takes Position in Ferrari (NYSE:RACE)

Generali Asset Management SPA SGR purchased a new stake in Ferrari (NYSE:RACE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 38,055 shares of the company’s stock, valued at approximately $15,694,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. lifted its stake in shares of Ferrari by 7.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,454 shares of the company’s stock valued at $1,154,000 after buying an additional 168 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of Ferrari by 3.8% in the third quarter. OneDigital Investment Advisors LLC now owns 3,078 shares of the company’s stock valued at $1,447,000 after buying an additional 113 shares during the period. Mill Creek Capital Advisors LLC bought a new position in Ferrari during the third quarter worth about $218,000. Mutual of America Capital Management LLC lifted its stake in Ferrari by 20.7% during the third quarter. Mutual of America Capital Management LLC now owns 22,285 shares of the company’s stock worth $10,445,000 after purchasing an additional 3,824 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Ferrari by 63.4% during the third quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company’s stock worth $1,274,000 after purchasing an additional 1,051 shares during the period.

Ferrari Price Performance

RACE opened at $454.62 on Tuesday. The company has a market capitalization of $110.19 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 4.43 and a beta of 0.94. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $454.94 and a 200-day moving average price of $455.09. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13.

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 issued a dividend of $3.1265 per share. This is a positive change from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio is currently 5.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RACE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus 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.