Envestnet Asset Management Inc. Makes New $959,000 Investment 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. purchased a new stake in Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 129,628 shares of the company's stock, valued at approximately $959,000.

A number of other institutional investors also recently bought and sold shares of the business. Mirabella Financial Services LLP acquired a new position in Ermenegildo Zegna during the fourth quarter valued at $87,000. Vident Advisory LLC acquired a new stake in shares of Ermenegildo Zegna during the fourth quarter worth $126,000. Aquatic Capital Management LLC bought a new position in shares of Ermenegildo Zegna in the fourth quarter valued at $144,000. Dynamic Technology Lab Private Ltd acquired a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $151,000. Finally, Handelsbanken Fonder AB raised its holdings in Ermenegildo Zegna by 26.0% in the 1st quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company's stock valued at $280,000 after buying an additional 7,800 shares during the last quarter. 12.91% of the stock is owned by hedge funds and other institutional investors.

Ermenegildo Zegna Price Performance

NYSE ZGN traded up $0.10 during trading hours on Wednesday, reaching $7.85. The company's stock had a trading volume of 200,881 shares, compared to its average volume of 1,039,861. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. Ermenegildo Zegna N.V. has a 1 year low of $6.05 and a 1 year high of $10.82. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.95 and a beta of 0.72. The firm's 50-day moving average price is $8.75 and its 200-day moving average price is $8.28.

Ermenegildo Zegna Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, July 29th. Investors of record on Monday, July 7th were given a dividend of $0.1361 per share. The ex-dividend date was Monday, July 7th. This represents a dividend yield of 150.0%. This is an increase from Ermenegildo Zegna's previous annual dividend of $0.12. Ermenegildo Zegna's payout ratio is presently 26.42%.

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.