Federated Hermes Inc. Acquires New Shares in Ermenegildo Zegna N.V. (NYSE:ZGN)

Key Points

• Federated Hermes Inc. has acquired 140,000 shares of Ermenegildo Zegna N.V., valued at approximately $1,036,000, during the first quarter of the year.
• Ermenegildo Zegna recently announced a dividend increase to $0.1361 annually, which represents a yield of 150.0% based on its previous dividend.
• The current stock price of Ermenegildo Zegna is $7.82, with a market capitalization of $3.18 billion and a PE ratio of 14.75.

Federated Hermes Inc. bought a new stake in shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 140,000 shares of the company's stock, valued at approximately $1,036,000.

Several other hedge funds also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Ermenegildo Zegna by 10.0% in the 4th 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 last quarter. Public Investment Fund lifted its position 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 worth $48,192,000 after buying an additional 2,124,128 shares during the last quarter. FIL Ltd increased its stake in shares of Ermenegildo Zegna by 18.0% in the fourth quarter. FIL Ltd now owns 1,672,992 shares of the company's stock worth $13,819,000 after purchasing an additional 255,079 shares during the period. Tabor Asset Management LP increased its stake 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 worth $7,927,000 after purchasing an additional 751,930 shares during the period. Finally, Osborne Partners Capital Management LLC bought a new position in Ermenegildo Zegna during the first quarter valued at about $4,984,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Performance

ZGN traded up $0.09 on Friday, hitting $7.87. 669,755 shares of the stock traded hands, compared to its average volume of 921,494. The firm has a market capitalization of $3.21 billion, a PE ratio of 14.85, a P/E/G ratio of 2.95 and a beta of 0.72. 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 N.V. has a 52 week low of $6.05 and a 52 week high of $10.59. The business has a fifty day moving average price of $8.71 and a two-hundred day moving average price of $8.26.

Ermenegildo Zegna Increases Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, July 29th. Stockholders of record on Monday, July 7th were paid a $0.1361 dividend. This is an increase from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date of this dividend was Monday, July 7th. This represents a dividend yield of 150.0%.

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.