Wiser Advisor Group LLC Increases Stock Position in Ferrari (NYSE:RACE)

Wiser Advisor Group LLC boosted its stake in Ferrari (NYSE:RACE) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,303 shares of the company’s stock after acquiring an additional 175 shares during the period. Ferrari comprises approximately 0.8% of Wiser Advisor Group LLC’s portfolio, making the stock its 29th largest position. Wiser Advisor Group LLC’s holdings in Ferrari were worth $554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SVB Wealth LLC purchased a new stake in Ferrari in the fourth quarter valued at $258,000. Mutual of America Capital Management LLC lifted its position in Ferrari by 5.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 23,517 shares of the company’s stock valued at $10,029,000 after acquiring an additional 1,232 shares during the last quarter. Illumine Investment Management LLC purchased a new stake in Ferrari in the fourth quarter valued at $656,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its position in Ferrari by 14.8% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 310 shares of the company’s stock valued at $133,000 after acquiring an additional 40 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in Ferrari by 14.4% in the fourth quarter. QRG Capital Management Inc. now owns 651 shares of the company’s stock valued at $277,000 after acquiring an additional 82 shares during the last quarter.

Ferrari Trading Up 0.9 %

Shares of Ferrari stock opened at $464.47 on Friday. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. 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 company’s 50-day simple moving average is $449.85 and its 200-day simple moving average is $456.83. The firm has a market cap of $113.21 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95.

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

Analysts Set New Price Targets

RACE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group lifted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

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.