Envestnet Asset Management Inc. Takes Position in Ermenegildo Zegna N.V. (NYSE:ZGN)

Key Points

• Envestnet Asset Management Inc. has invested approximately $959,000 in Ermenegildo Zegna N.V. by purchasing 129,628 shares during the first quarter.
• Ermenegildo Zegna recently increased its annual dividend from $0.12 to $0.1361, with a yield of 150.0%.
• The company's stock opened at $7.73 and has a market capitalization of $3.15 billion, with a P/E ratio of 14.58.

Envestnet Asset Management Inc. bought a new position in shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 129,628 shares of the company's stock, valued at approximately $959,000.

A number of other institutional investors have also added to or reduced their stakes in ZGN. Public Investment Fund increased its holdings in shares of Ermenegildo Zegna by 57.3% in the fourth quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock valued at $48,192,000 after purchasing an additional 2,124,128 shares during the last quarter. Alpine Investment Management Ltd acquired a new position in shares of Ermenegildo Zegna in the fourth quarter valued at $7,100,000. Tabor Asset Management LP increased its holdings in shares of Ermenegildo Zegna by 362.0% in the fourth quarter. Tabor Asset Management LP now owns 959,643 shares of the company's stock valued at $7,927,000 after purchasing an additional 751,930 shares during the last quarter. Osborne Partners Capital Management LLC acquired a new position in shares of Ermenegildo Zegna in the first quarter valued at $4,984,000. Finally, Invesco Ltd. increased its holdings in shares of Ermenegildo Zegna by 10.0% in the fourth quarter. Invesco Ltd. now owns 6,386,184 shares of the company's stock valued at $52,750,000 after purchasing an additional 581,696 shares during the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Performance

Shares of NYSE:ZGN traded up $0.10 on Monday, hitting $7.85. The company had a trading volume of 1,335,435 shares, compared to its average volume of 1,041,769. Ermenegildo Zegna N.V. has a 1-year low of $6.05 and a 1-year high of $10.99. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 2.91 and a beta of 0.72. The stock has a 50 day moving average price of $8.78 and a 200 day moving average price of $8.28. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20.

Ermenegildo Zegna Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, July 29th. Stockholders of record on Monday, July 7th were given a $0.1361 dividend. The ex-dividend date of this dividend was Monday, July 7th. This is a boost from Ermenegildo Zegna's previous annual dividend of $0.12. This represents a dividend yield of 150.0%. Ermenegildo Zegna's dividend payout ratio (DPR) is presently 22.64%.

About Ermenegildo Zegna

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.