Ameriprise Financial Inc. Has $226.38 Million Stock Position in Ferrari (NYSE:RACE)

Ameriprise Financial Inc. raised its stake in shares of Ferrari (NYSE:RACE - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 533,533 shares of the company's stock after acquiring an additional 9,700 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.22% of Ferrari worth $226,375,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RACE. Vanguard Group Inc. boosted its stake in Ferrari by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after purchasing an additional 45,754 shares in the last quarter. Bank of Italy lifted its position in Ferrari by 2.8% during the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company's stock worth $1,002,392,000 after buying an additional 63,675 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after acquiring an additional 594,547 shares during the last quarter. Norges Bank acquired a new stake in Ferrari in the 4th quarter valued at about $697,226,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock worth $684,888,000 after acquiring an additional 38,356 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RACE. JPMorgan Chase & Co. dropped their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating on the stock. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Finally, Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $501.60.

Ferrari Trading Up 1.6 %

Shares of RACE stock traded up $7.55 on Friday, reaching $488.26. The company had a trading volume of 269,893 shares, compared to its average volume of 328,891. The stock has a market cap of $118.34 billion, a PE ratio of 53.36, a PEG ratio of 4.43 and a beta of 1.13. The company has a 50-day moving average of $441.81 and a 200-day moving average of $446.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $1.95 earnings per share. The business's quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Ferrari will post 9.22 earnings per share for the current year.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd were issued a dividend of $3.1265 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This is a positive change from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari's payout ratio is currently 5.63%.

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.