UBS Group AG raised its position in shares of Ermenegildo Zegna N.V. (NYSE:ZGN – Free Report) by 8.0% in the fourth quarter, HoldingsChannel reports. The firm owned 835,467 shares of the company’s stock after acquiring an additional 62,014 shares during the period. UBS Group AG’s holdings in Ermenegildo Zegna were worth $8,564,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZGN. CWM LLC acquired a new position in Ermenegildo Zegna during the 3rd quarter valued at about $25,000. California State Teachers Retirement System acquired a new position in Ermenegildo Zegna during the 2nd quarter valued at about $33,000. Lazard Asset Management LLC acquired a new position in Ermenegildo Zegna during the 2nd quarter valued at about $54,000. Legal & General Group Plc acquired a new position in Ermenegildo Zegna during the 2nd quarter valued at about $59,000. Finally, Tower Research Capital LLC TRC boosted its stake in Ermenegildo Zegna by 73.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company’s stock valued at $61,000 after purchasing an additional 3,033 shares during the period. 12.91% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Ermenegildo Zegna
In related news, Director Alessandro Sartori sold 6,505 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $85,345.60. Following the completion of the sale, the director directly owned 142,237 shares of the company’s stock, valued at $1,866,149.44. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $250,657.60. Following the sale, the chief executive officer directly owned 167,720 shares of the company’s stock, valued at approximately $2,200,486.40. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 31,378 shares of company stock valued at $411,679 over the last ninety days. Insiders own 1.20% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Report on ZGN
Ermenegildo Zegna Price Performance
Shares of NYSE:ZGN opened at $12.58 on Monday. The company has a 50 day moving average of $11.17 and a 200-day moving average of $10.66. Ermenegildo Zegna N.V. has a twelve month low of $7.61 and a twelve month high of $13.38. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15.
Ermenegildo Zegna (NYSE:ZGN – Get Free Report) last issued its quarterly earnings results on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The firm had revenue of $577.83 million for the quarter, compared to the consensus estimate of $1.17 billion. On average, research analysts expect that Ermenegildo Zegna N.V. will post 0.46 earnings per share for the current year.
Ermenegildo Zegna Cuts Dividend
The firm also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a yield of 99.0%.
Ermenegildo Zegna Profile
Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.
Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.
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