Ferrari (NYSE:RACE) Shares Bought by Wiser Advisor Group LLC

Wiser Advisor Group LLC boosted its stake in shares of Ferrari (NYSE:RACE) by 15.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,303 shares of the company’s stock after purchasing an additional 175 shares during the quarter. Ferrari comprises 0.8% of Wiser Advisor Group LLC’s portfolio, making the stock its 29th biggest holding. Wiser Advisor Group LLC’s holdings in Ferrari were worth $554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RACE. Mirae Asset Global Investments Co. Ltd. grew its position in Ferrari by 29.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,500 shares of the company’s stock worth $1,179,000 after buying an additional 570 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Ferrari by 11.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,345 shares of the company’s stock worth $1,102,000 after buying an additional 241 shares during the period. First Trust Direct Indexing L.P. grew its position in Ferrari by 8.4% during the third quarter. First Trust Direct Indexing L.P. now owns 3,656 shares of the company’s stock worth $1,719,000 after buying an additional 284 shares during the period. Financial Advocates Investment Management lifted its holdings in shares of Ferrari by 2.9% in the third quarter. Financial Advocates Investment Management now owns 2,889 shares of the company’s stock valued at $1,355,000 after purchasing an additional 81 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Ferrari by 1.7% in the third quarter. US Bancorp DE now owns 16,483 shares of the company’s stock valued at $7,750,000 after purchasing an additional 282 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $464.47 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 has a market capitalization of $113.21 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 4.43 and a beta of 0.95. The company’s 50 day simple moving average is $449.85 and its 200 day simple moving average is $456.83. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13.

Ferrari Increases Dividend

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

Analyst Ratings Changes

RACE has been the topic of several recent research reports. UBS Group upped their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus 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.