Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Ermenegildo Zegna N.V. $ZGN

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Ermenegildo Zegna, buying 194,530 shares worth about $1.99 million in the fourth quarter.
• Analyst sentiment has turned more positive, with TD Cowen and Wall Street Zen both upgrading ZGN to buy; the stock now carries a consensus rating of Moderate Buy with an average price target of $12.51.
• Insiders sold shares recently: Director Alessandro Sartori and CEO Gianluca Ambrogio Tagliabue both sold stock on May 8 to cover tax withholding obligations tied to equity awards.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 194,530 shares of the company's stock, valued at approximately $1,994,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Matauro LLC acquired a new position in shares of Ermenegildo Zegna in the fourth quarter valued at approximately $2,099,000. Quantbot Technologies LP acquired a new position in shares of Ermenegildo Zegna in the third quarter valued at approximately $1,076,000. Federated Hermes Inc. grew its position in shares of Ermenegildo Zegna by 38.3% in the third quarter. Federated Hermes Inc. now owns 304,206 shares of the company's stock valued at $2,875,000 after purchasing an additional 84,206 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Ermenegildo Zegna in the third quarter valued at approximately $22,609,000. Finally, Temasek Holdings Private Ltd grew its position in shares of Ermenegildo Zegna by 114.5% in the third quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company's stock valued at $257,440,000 after purchasing an additional 14,542,295 shares during the last quarter. Institutional investors and hedge funds own 12.91% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZGN. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. UBS Group reaffirmed a "buy" rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. TD Cowen raised Ermenegildo Zegna from a "hold" rating to a "buy" rating and upped their target price for the company from $13.00 to $15.00 in a research report on Wednesday. Wall Street Zen raised Ermenegildo Zegna from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Morgan Stanley started coverage on Ermenegildo Zegna in a research report on Thursday, February 12th. They set an "equal weight" rating and a $11.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.51.

Insider Activity

In related news, Director Alessandro Sartori sold 6,505 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $85,345.60. Following the completion of the sale, the director directly owned 142,237 shares in the company, valued at $1,866,149.44. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $250,657.60. Following the completion of the sale, the chief executive officer owned 167,720 shares of the company's stock, valued at $2,200,486.40. The trade was a 10.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 31,378 shares of company stock worth $411,679. Insiders own 1.20% of the company's stock.

Ermenegildo Zegna Stock Down 0.0%

Shares of ZGN opened at $13.38 on Friday. Ermenegildo Zegna N.V. has a 52 week low of $7.61 and a 52 week high of $13.50. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $11.36 and a 200-day moving average of $10.73.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) last announced its quarterly earnings results on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.11). The firm had revenue of $577.83 million during the quarter, compared to the consensus estimate of $1.17 billion. As a group, research analysts forecast that Ermenegildo Zegna N.V. will post 0.46 EPS for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, July 6th will be paid a $0.12 dividend. This represents a dividend yield of 99.0%. The ex-dividend date is Monday, July 6th.

About Ermenegildo Zegna

Ermenegildo Zegna is a global luxury fashion house specializing in men's tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.

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