Osborne Partners Capital Management LLC Raises Stock Holdings in Ermenegildo Zegna N.V. $ZGN

Key Points

• Osborne Partners Capital Management increased its stake in Ermenegildo Zegna by 34.8% in the first quarter, ending with 942,458 shares worth about $9.82 million.
• Several other institutional investors also boosted or initiated positions, and hedge funds and institutions now own 12.91% of the company.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus, with a consensus price target of $13.01 and several firms recently adjusting ratings and targets.

Osborne Partners Capital Management LLC increased its stake in shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) by 34.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 942,458 shares of the company's stock after purchasing an additional 243,137 shares during the quarter. Osborne Partners Capital Management LLC owned approximately 0.22% of Ermenegildo Zegna worth $9,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company's stock valued at $8,503,000 after purchasing an additional 742,680 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ermenegildo Zegna by 22.7% during the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company's stock worth $995,000 after buying an additional 24,862 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Ermenegildo Zegna in the first quarter valued at approximately $1,161,000. Geode Capital Management LLC acquired a new position in shares of Ermenegildo Zegna in the second quarter valued at approximately $6,245,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Ermenegildo Zegna by 59,691.8% during the second quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company's stock valued at $250,000 after buying an additional 29,249 shares during the period. Hedge funds and other institutional investors own 12.91% of the company's stock.

Insider Transactions at Ermenegildo Zegna

In related news, CFO Gian Franco Santhia sold 5,768 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 $75,676.16. Following the transaction, the chief financial officer directly owned 44,448 shares of the company's stock, valued at approximately $583,157.76. This trade represents a 11.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Alessandro Sartori sold 6,505 shares of Ermenegildo Zegna stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $85,345.60. Following the completion of the transaction, the director owned 142,237 shares in the company, valued at $1,866,149.44. The trade was a 4.37% decrease in their position. 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. Insiders sold a total of 31,378 shares of company stock worth $411,679 in the last ninety days. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

ZGN has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Ermenegildo Zegna from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. The Goldman Sachs Group downgraded Ermenegildo Zegna from a "buy" rating to a "neutral" rating and boosted their price target for the company from $13.30 to $14.00 in a report on Wednesday, June 17th. TD Cowen raised Ermenegildo Zegna from a "hold" rating to a "buy" rating and lifted their price objective for the company from $13.00 to $15.00 in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upped their target price on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, UBS Group reiterated a "buy" rating and set a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.01.

Ermenegildo Zegna Trading Up 0.1%

Shares of ZGN stock opened at $13.19 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15. Ermenegildo Zegna N.V. has a one year low of $7.61 and a one year high of $15.44. The company has a 50 day moving average price of $13.42 and a 200 day moving average price of $11.54.

Ermenegildo Zegna Cuts Dividend

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

Ermenegildo Zegna Profile

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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