Ermenegildo Zegna (NYSE:ZGN) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 290,775 shares of the company's stock after selling 29,590 shares during the quarter. Nuveen Asset Management LLC owned about 0.07% of Ermenegildo Zegna worth $2,402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in Ermenegildo Zegna in the fourth quarter valued at $28,000. Entropy Technologies LP purchased a new position in shares of Ermenegildo Zegna in the 4th quarter worth about $84,000. Mirabella Financial Services LLP purchased a new position in shares of Ermenegildo Zegna in the 4th quarter worth about $87,000. Aquatic Capital Management LLC purchased a new stake in shares of Ermenegildo Zegna during the 4th quarter worth about $144,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $151,000. 12.91% of the stock is owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Up 0.4%

Shares of ZGN traded up $0.04 during midday trading on Thursday, reaching $8.62. 327,859 shares of the company were exchanged, compared to its average volume of 716,817. Ermenegildo Zegna has a 1-year low of $6.05 and a 1-year high of $12.77. The stock has a 50-day moving average price of $7.75 and a 200-day moving average price of $8.09. 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 market cap of $3.51 billion, a price-to-earnings ratio of 16.25 and a beta of 0.74.

Ermenegildo Zegna Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, July 29th. Investors 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 is a positive change from Ermenegildo Zegna's previous annual dividend of $0.12. This represents a yield of 1.5%. Ermenegildo Zegna's payout ratio is 22.64%.

Analyst Upgrades and Downgrades

Separately, TD Cowen began coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They set a "hold" rating and a $10.00 price objective for the company.

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.