Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Stake in Ermenegildo Zegna N.V. $ZGN

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Ermenegildo Zegna N.V. (NYSE:ZGN) in the fourth quarter, Holdings Channel reports. The firm acquired 194,530 shares of the company’s stock, valued at approximately $1,994,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ZGN. CWM LLC acquired a new stake in Ermenegildo Zegna in the third quarter valued at $25,000. California State Teachers Retirement System acquired a new stake in Ermenegildo Zegna in the second quarter valued at $33,000. Lazard Asset Management LLC acquired a new stake in Ermenegildo Zegna in the second quarter valued at $54,000. Legal & General Group Plc acquired a new stake in Ermenegildo Zegna in the second quarter valued at $59,000. Finally, Tower Research Capital LLC TRC increased its holdings in Ermenegildo Zegna by 73.7% in the second 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 currently owned by institutional investors and hedge funds.

Insider Activity at Ermenegildo Zegna

In related news, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the firm’s stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 firm’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 $85,345.60. Following the completion of the transaction, the director directly owned 142,237 shares in the company, valued at approximately $1,866,149.44. The trade was a 4.37% 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. In the last quarter, insiders have sold 31,378 shares of company stock valued at $411,679. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ZGN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Monday, April 20th. Wall Street Zen upgraded Ermenegildo Zegna from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Morgan Stanley started coverage on Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price target for the company. TD Cowen upgraded Ermenegildo Zegna from a “hold” rating to a “buy” rating and increased their price target for the stock from $13.00 to $15.00 in a report on Wednesday. Finally, UBS Group reiterated a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.51.

Ermenegildo Zegna Trading Down 0.0%

Shares of NYSE ZGN opened at $13.38 on Friday. Ermenegildo Zegna N.V. has a fifty-two week low of $7.61 and a fifty-two week high of $13.50. 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 firm’s 50-day simple moving average is $11.36 and its 200 day simple moving average is $10.73.

Ermenegildo Zegna (NYSE:ZGN) last announced its quarterly earnings results on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate 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. As a group, research analysts forecast that Ermenegildo Zegna N.V. will post 0.46 EPS for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be given a $0.12 dividend. 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.