Integrated Wealth Concepts LLC Has $1.14 Million Stock Holdings in Ferrari (NYSE:RACE)

Integrated Wealth Concepts LLC decreased its position in Ferrari (NYSE:RACE - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,692 shares of the company's stock after selling 634 shares during the period. Integrated Wealth Concepts LLC's holdings in Ferrari were worth $1,144,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Symmetry Investments LP boosted its position in shares of Ferrari by 557.8% during the 4th quarter. Symmetry Investments LP now owns 46,047 shares of the company's stock valued at $19,563,000 after acquiring an additional 39,047 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of Ferrari by 27.6% in the 4th quarter. MGO One Seven LLC now owns 1,226 shares of the company's stock worth $521,000 after buying an additional 265 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after buying an additional 594,547 shares in the last quarter. Dark Forest Capital Management LP grew its position in Ferrari by 122.6% in the fourth quarter. Dark Forest Capital Management LP now owns 1,360 shares of the company's stock valued at $578,000 after acquiring an additional 749 shares during the period. Finally, Fayez Sarofim & Co raised its stake in Ferrari by 10.1% during the fourth quarter. Fayez Sarofim & Co now owns 8,149 shares of the company's stock worth $3,462,000 after acquiring an additional 745 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented 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 on the stock. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. 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 report on Thursday, March 27th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, UBS Group dropped their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Trading Up 0.6 %

Shares of NYSE RACE traded up $2.80 during midday trading on Friday, hitting $462.92. The stock had a trading volume of 408,398 shares, compared to its average volume of 331,287. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The firm has a market cap of $112.20 billion, a P/E ratio of 50.59, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. The company's 50-day simple moving average is $441.99 and its 200 day simple moving average is $447.11.

Ferrari Increases Dividend

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