Nuveen Asset Management LLC Decreases Stock Holdings in Ermenegildo Zegna (NYSE:ZGN)

Nuveen Asset Management LLC cut its position in Ermenegildo Zegna (NYSE:ZGN - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 290,775 shares of the company's stock after selling 29,590 shares during the period. 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 (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZGN. Public Investment Fund boosted its holdings in 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 buying an additional 2,124,128 shares during the period. Alpine Investment Management Ltd purchased a new position in shares of Ermenegildo Zegna in the fourth quarter valued at about $7,100,000. Invesco Ltd. boosted its stake 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 worth $52,750,000 after acquiring an additional 581,696 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of Ermenegildo Zegna in the fourth quarter worth about $4,172,000. Finally, Portolan Capital Management LLC purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter worth about $3,351,000. 12.91% of the stock is owned by hedge funds and other institutional investors.

Ermenegildo Zegna Price Performance

ZGN traded down $0.03 during trading on Friday, hitting $8.52. 589,904 shares of the company traded hands, compared to its average volume of 721,349. 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 $3.47 billion, a PE ratio of 16.07 and a beta of 0.74. The stock's 50-day simple moving average is $7.80 and its two-hundred day simple moving average is $8.10. Ermenegildo Zegna has a 1 year low of $6.05 and a 1 year high of $12.77.

Ermenegildo Zegna Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.