Two Sigma Advisers LP Raises Stake in Ermenegildo Zegna (NYSE:ZGN)

Two Sigma Advisers LP grew its position in Ermenegildo Zegna (NYSE:ZGN - Free Report) by 157.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 467,000 shares of the company's stock after buying an additional 285,900 shares during the period. Two Sigma Advisers LP owned 0.12% of Ermenegildo Zegna worth $3,857,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ZGN. Public Investment Fund boosted 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 valued at $48,192,000 after buying an additional 2,124,128 shares during the period. Alpine Investment Management Ltd purchased a new position in Ermenegildo Zegna in the 4th quarter valued at approximately $7,100,000. Tabor Asset Management LP boosted its position in Ermenegildo Zegna by 362.0% in the 4th quarter. Tabor Asset Management LP now owns 959,643 shares of the company's stock valued at $7,927,000 after buying an additional 751,930 shares during the period. Invesco Ltd. boosted 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 valued at $52,750,000 after buying an additional 581,696 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in Ermenegildo Zegna in the 4th quarter valued at approximately $4,172,000. Hedge funds and other institutional investors own 12.91% of the company's stock.

Ermenegildo Zegna Stock Down 0.6%

Shares of ZGN traded down $0.05 during midday trading on Friday, reaching $8.60. The stock had a trading volume of 947,863 shares, compared to its average volume of 716,503. Ermenegildo Zegna has a 1-year low of $6.05 and a 1-year high of $12.77. The company's fifty day simple moving average is $7.69 and its two-hundred day simple moving average is $8.07. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 16.23 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Ermenegildo Zegna Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, July 29th. Investors 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. This represents a yield of 1.5%. The ex-dividend date of this dividend is Monday, July 7th. Ermenegildo Zegna's dividend payout ratio (DPR) is currently 22.64%.

Analyst Upgrades and Downgrades

Separately, TD Cowen assumed coverage on shares of Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 price target for the company.

Ermenegildo Zegna Profile

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.