Bank of America Corp DE Has $459,000 Stock Holdings in Ermenegildo Zegna (NYSE:ZGN)

Bank of America Corp DE cut its holdings in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) by 48.6% during the fourth quarter, according to the company in its most recent 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 period. Bank of America Corp DE's holdings in Ermenegildo Zegna were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ZGN. SBI Securities Co. Ltd. bought a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $28,000. Entropy Technologies LP bought a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $84,000. Mirabella Financial Services LLP bought a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $87,000. Aquatic Capital Management LLC bought a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $144,000. Finally, Next Capital Management LLC bought a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $151,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Up 0.1%

Shares of Ermenegildo Zegna stock traded up $0.01 on Friday, reaching $8.66. 3,953,739 shares of the company were exchanged, compared to its average volume of 742,642. Ermenegildo Zegna has a one year low of $6.05 and a one year high of $12.15. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 16.34 and a beta of 0.74. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $8.00 and a 200 day moving average of $8.13.

Ermenegildo Zegna Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Monday, July 7th will be issued a $0.1361 dividend. This represents a yield of 1.5%. This is a positive change from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date is Monday, July 7th. Ermenegildo Zegna's dividend payout ratio is currently 22.64%.

Wall Street Analysts Forecast Growth

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 target price on the stock.

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.