Millennium Management LLC raised its stake in Ermenegildo Zegna (NYSE:ZGN - Free Report) by 319.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406,375 shares of the company's stock after buying an additional 309,424 shares during the period. Millennium Management LLC owned about 0.10% of Ermenegildo Zegna worth $3,357,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in ZGN. Public Investment Fund raised its position 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 purchasing an additional 2,124,128 shares during the period. Alpine Investment Management Ltd purchased a new position in Ermenegildo Zegna in the 4th quarter worth $7,100,000. Invesco Ltd. raised its position in 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 purchasing an additional 581,696 shares during the period. Balyasny Asset Management L.P. purchased a new position in Ermenegildo Zegna in the 4th quarter worth $4,172,000. Finally, Portolan Capital Management LLC purchased a new position in Ermenegildo Zegna in the 4th quarter worth $3,351,000. Hedge funds and other institutional investors own 12.91% of the company's stock.
Analysts Set New Price Targets
Separately, TD Cowen initiated coverage on shares of Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 price target on the stock.
View Our Latest Analysis on Ermenegildo Zegna
Ermenegildo Zegna Trading Up 1.1%
Ermenegildo Zegna stock traded up $0.09 during trading hours on Wednesday, reaching $8.59. The stock had a trading volume of 512,884 shares, compared to its average volume of 718,274. The stock has a market cap of $3.50 billion, a PE ratio of 16.21 and a beta of 0.72. Ermenegildo Zegna has a 52 week low of $6.05 and a 52 week high of $12.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. The company has a fifty day simple moving average of $7.75 and a 200-day simple moving average of $8.09.
Ermenegildo Zegna Increases Dividend
The business also recently announced an annual dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Monday, July 7th will be paid 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 is Monday, July 7th. This represents a dividend yield of 1.5%. Ermenegildo Zegna's payout ratio is presently 22.64%.
Ermenegildo Zegna Profile
(
Free Report)
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.
See Also

Before you consider Ermenegildo Zegna, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ermenegildo Zegna wasn't on the list.
While Ermenegildo Zegna currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.