Orion Portfolio Solutions LLC Lowers Position in Ferrari (NYSE:RACE)

Orion Portfolio Solutions LLC trimmed its stake in shares of Ferrari (NYSE:RACE) by 8.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,713 shares of the company’s stock after selling 695 shares during the period. Orion Portfolio Solutions LLC’s holdings in Ferrari were worth $3,277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RACE. Hanson & Doremus Investment Management purchased a new position in Ferrari in the fourth quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Ferrari in the 3rd quarter worth approximately $47,000. Armstrong Advisory Group Inc. increased its position in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Ferrari during the 4th quarter valued at $45,000. Finally, Plato Investment Management Ltd bought a new stake in Ferrari in the fourth quarter worth $53,000.

Ferrari Price Performance

Shares of RACE stock opened at $428.71 on Tuesday. The stock’s 50-day moving average is $455.85 and its 200 day moving average is $451.90. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market cap of $103.91 billion, a P/E ratio of 46.85, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RACE shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Company 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.