UBS Group AG Grows Holdings in Ermenegildo Zegna N.V. $ZGN

UBS Group AG increased its position in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 835,467 shares of the company’s stock after buying an additional 62,014 shares during the period. UBS Group AG owned about 0.21% of Ermenegildo Zegna worth $8,564,000 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 the company. CWM LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth about $25,000. California State Teachers Retirement System bought a new stake in shares of Ermenegildo Zegna in the 2nd quarter worth about $33,000. Lazard Asset Management LLC bought a new stake in shares of Ermenegildo Zegna in the 2nd quarter worth about $54,000. Legal & General Group Plc bought a new stake in shares of Ermenegildo Zegna in the 2nd quarter worth about $59,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Ermenegildo Zegna by 73.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company’s stock worth $61,000 after purchasing an additional 3,033 shares during the last quarter. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Trading Down 0.0%

Shares of NYSE:ZGN opened at $12.58 on Monday. 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 N.V. has a fifty-two week low of $7.61 and a fifty-two week high of $13.38. The firm has a 50-day simple moving average of $11.17 and a 200 day simple moving average of $10.66.

Ermenegildo Zegna (NYSE:ZGN) last announced its quarterly earnings data 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 company had revenue of $577.83 million for the quarter, compared to analyst estimates of $1.17 billion. On average, sell-side analysts predict that Ermenegildo Zegna N.V. will post 0.46 EPS for the current year.

Ermenegildo Zegna Cuts Dividend

The firm 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 dividend yield of 99.0%. The ex-dividend date of this dividend is Monday, July 6th.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ZGN shares. TD Cowen boosted their target price on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. UBS Group reissued a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research report on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 target price for the company. Wall Street Zen raised shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.26.

Insider Activity at Ermenegildo Zegna

In related news, CFO Gian Franco Santhia sold 5,768 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $75,676.16. Following the completion of the sale, the chief financial officer owned 44,448 shares of the company’s stock, valued at $583,157.76. This represents a 11.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 business’s stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. 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.

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.