Federated Hermes Inc. Purchases Shares of 140,000 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 Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 140,000 shares of the company's stock, valued at approximately $1,036,000.

Other hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in shares of Ermenegildo Zegna by 26.0% in the first quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company's stock valued at $280,000 after acquiring an additional 7,800 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter worth about $87,000. Vident Advisory LLC purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter worth about $126,000. Aquatic Capital Management LLC purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter worth about $144,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Ermenegildo Zegna in the fourth quarter valued at approximately $151,000. Hedge funds and other institutional investors own 12.91% of the company's stock.

Ermenegildo Zegna Trading Down 0.4%

NYSE ZGN traded down $0.04 during mid-day trading on Thursday, reaching $7.77. 667,349 shares of the stock were exchanged, compared to its average volume of 944,566. The stock has a market capitalization of $3.16 billion, a PE ratio of 14.65, a PEG ratio of 2.93 and a beta of 0.72. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.80 and a current ratio of 1.41. Ermenegildo Zegna N.V. has a 1-year low of $6.05 and a 1-year high of $10.64. The business's fifty day simple moving average is $8.72 and its 200 day simple moving average is $8.27.

Ermenegildo Zegna Increases Dividend

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

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.