Ermenegildo Zegna N.V. $ZGN Shares Acquired by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC increased its holdings in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) by 34.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 942,458 shares of the company’s stock after purchasing an additional 243,137 shares during the period. Osborne Partners Capital Management LLC’s holdings in Ermenegildo Zegna were worth $9,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in Ermenegildo Zegna by 182.8% in the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after purchasing an additional 742,680 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Ermenegildo Zegna by 22.7% in the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock worth $995,000 after buying an additional 24,862 shares during the period. Jane Street Group LLC purchased a new stake in shares of Ermenegildo Zegna in the first quarter worth about $1,161,000. Geode Capital Management LLC acquired a new stake in shares of Ermenegildo Zegna in the second quarter valued at about $6,245,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Ermenegildo Zegna by 59,691.8% in the second quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company’s stock valued at $250,000 after buying an additional 29,249 shares in the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on ZGN shares. JPMorgan Chase & Co. boosted their price target on Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. UBS Group reiterated a “buy” rating and set a $14.50 price objective on shares of Ermenegildo Zegna in a research note on Friday, May 1st. The Goldman Sachs Group cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. Finally, TD Cowen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $15.00 in a research note on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.01.

Ermenegildo Zegna Stock Up 0.1%

Shares of NYSE ZGN opened at $13.19 on Friday. Ermenegildo Zegna N.V. has a 1 year low of $7.61 and a 1 year high of $15.44. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $13.42 and its 200-day simple moving average is $11.54.

Ermenegildo Zegna Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, July 6th will be paid a dividend of $0.12 per share. This represents a yield of 99.0%. The ex-dividend date is Monday, July 6th.

Insider Buying and Selling at Ermenegildo Zegna

In other Ermenegildo Zegna news, Director Alessandro Sartori sold 6,505 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $85,345.60. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, 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 value of $250,657.60. Following the transaction, the chief executive officer owned 167,720 shares of the company’s stock, valued at approximately $2,200,486.40. This trade represents a 10.23% decrease in their ownership of the stock. 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 worth $411,679 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

Ermenegildo Zegna Company 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.