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

Prudential PLC increased its holdings in shares of Ferrari (NYSE:RACE) by 39.4% in the 4th quarter, HoldingsChannel reports. The firm owned 9,630 shares of the company’s stock after acquiring 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 quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings 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 in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Ferrari during the 4th quarter valued at $853,000. Sapient Capital LLC boosted its stake in Ferrari by 1.0% during 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 in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ferrari in the fourth quarter worth $3,371,000. Finally, Allworth Financial LP grew its holdings in Ferrari by 35.1% in the fourth quarter. Allworth Financial LP now owns 327 shares of the company’s stock worth $141,000 after purchasing an additional 85 shares during the period.

Ferrari Trading Down 3.9 %

NYSE RACE opened at $414.50 on Friday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $455.45 and a 200 day simple moving average of $450.97. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The firm has a market capitalization of $100.47 billion, a P/E ratio of 45.30, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued 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 dividend payout ratio is currently 5.63%.

Analysts Set New Price Targets

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

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.