Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its stake in shares of Ermenegildo Zegna N.V. (NYSE:ZGN – Free Report) by 82.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 354,608 shares of the company’s stock after buying an additional 160,078 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Ermenegildo Zegna were worth $3,695,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZGN. Temasek Holdings Private Ltd raised its stake in Ermenegildo Zegna by 114.5% in the third quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock valued at $257,440,000 after purchasing an additional 14,542,295 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Ermenegildo Zegna during the third quarter worth about $22,609,000. Millennium Management LLC increased its holdings in Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after buying an additional 742,680 shares during the period. Geode Capital Management LLC acquired a new position in shares of Ermenegildo Zegna in the 2nd quarter valued at approximately $6,245,000. Finally, QVIDTVM Management LLC raised its position in shares of Ermenegildo Zegna by 33,892.4% in the 4th quarter. QVIDTVM Management LLC now owns 475,893 shares of the company’s stock valued at $4,878,000 after buying an additional 474,493 shares in the last quarter. 12.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $15.00 in a research report on Wednesday, May 20th. Wall Street Zen cut Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. The Goldman Sachs Group downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and raised their target price for the company from $13.30 to $14.00 in a report on Wednesday, June 17th. Finally, UBS Group reiterated a “buy” rating and issued a $14.50 price target on shares of Ermenegildo Zegna in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.01.
Insider Activity at Ermenegildo Zegna
In other Ermenegildo Zegna news, CFO Gian Franco Santhia sold 5,768 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $75,676.16. Following the sale, the chief financial officer owned 44,448 shares of the company’s stock, valued at approximately $583,157.76. The trade was a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Alessandro Sartori sold 6,505 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $85,345.60. Following the transaction, the director owned 142,237 shares of the company’s stock, valued at $1,866,149.44. This trade represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last quarter. Insiders own 1.20% of the company’s stock.
Ermenegildo Zegna Stock Performance
ZGN stock opened at $13.19 on Friday. The firm has a 50-day moving average price of $13.42 and a 200-day moving average price of $11.54. Ermenegildo Zegna N.V. has a 12 month low of $7.61 and a 12 month high of $15.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.
Ermenegildo Zegna Cuts Dividend
The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be given a dividend of $0.12 per share. This represents a yield of 99.0%. The ex-dividend date is Monday, July 6th.
About Ermenegildo Zegna
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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