Bank of America Corp DE Sells 52,491 Shares of Ermenegildo Zegna (NYSE:ZGN)

Bank of America Corp DE lowered its position in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) by 48.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,625 shares of the company's stock after selling 52,491 shares during the quarter. Bank of America Corp DE's holdings in Ermenegildo Zegna were worth $459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in Ermenegildo Zegna during the fourth quarter valued at $764,000. Aquatic Capital Management LLC purchased a new position in shares of Ermenegildo Zegna in the 4th quarter worth about $144,000. Nebula Research & Development LLC purchased a new position in shares of Ermenegildo Zegna in the 4th quarter worth about $450,000. Public Investment Fund raised its position in shares of Ermenegildo Zegna by 57.3% in the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock worth $48,192,000 after purchasing an additional 2,124,128 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in shares of Ermenegildo Zegna in the 4th quarter worth about $87,000. Hedge funds and other institutional investors own 12.91% of the company's stock.

Analyst Ratings Changes

Separately, TD Cowen started coverage on Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 price target for the company.

Ermenegildo Zegna Stock Up 0.1%

Shares of ZGN traded up $0.01 during trading hours on Friday, hitting $8.66. The company had a trading volume of 3,953,739 shares, compared to its average volume of 740,833. The firm has a fifty day moving average price of $8.00 and a 200-day moving average price of $8.13. 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 stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 16.34 and a beta of 0.74. Ermenegildo Zegna has a 52-week low of $6.05 and a 52-week high of $12.15.

Ermenegildo Zegna Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, July 29th. Investors of record on Monday, July 7th will be issued a $0.1361 dividend. This represents a yield of 1.5%. This is an increase from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, July 7th. Ermenegildo Zegna's dividend payout ratio (DPR) is presently 22.64%.

Ermenegildo Zegna Company 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.