BNP Paribas Financial Markets Buys Shares of 92,470 Ermenegildo Zegna (NYSE:ZGN)

BNP Paribas Financial Markets bought a new position in Ermenegildo Zegna (NYSE:ZGN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 92,470 shares of the company’s stock, valued at approximately $764,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Ermenegildo Zegna in the fourth quarter worth $28,000. American Assets Inc. acquired a new position in Ermenegildo Zegna in the 4th quarter worth about $578,000. FIL Ltd raised its stake in shares of Ermenegildo Zegna by 18.0% during the 4th quarter. FIL Ltd now owns 1,672,992 shares of the company’s stock worth $13,819,000 after purchasing an additional 255,079 shares in the last quarter. Public Investment Fund lifted its holdings in shares of Ermenegildo Zegna by 57.3% during the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company’s stock valued at $48,192,000 after buying an additional 2,124,128 shares during the last quarter. Finally, Next Capital Management LLC bought a new stake in shares of Ermenegildo Zegna in the 4th quarter valued at approximately $151,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen assumed coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They set a “hold” rating and a $10.00 price target on the stock.

Ermenegildo Zegna Stock Performance

ZGN opened at $8.48 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The company has a market cap of $3.45 billion, a PE ratio of 15.99 and a beta of 0.72. The stock has a 50-day moving average of $7.54 and a 200-day moving average of $8.02. Ermenegildo Zegna has a 52-week low of $6.05 and a 52-week high of $12.79.

Ermenegildo Zegna Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Monday, July 7th will be given a dividend of $0.1361 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a yield of 1.5%. This is a boost from Ermenegildo Zegna’s previous annual dividend of $0.12. Ermenegildo Zegna’s dividend payout ratio is presently 22.64%.

Ermenegildo Zegna Profile

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.