Two Sigma Investments LP Purchases 383,363 Shares of Ermenegildo Zegna (NYSE:ZGN)

Two Sigma Investments LP increased its stake in Ermenegildo Zegna (NYSE:ZGN - Free Report) by 451.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 468,251 shares of the company's stock after purchasing an additional 383,363 shares during the quarter. Two Sigma Investments LP owned approximately 0.12% of Ermenegildo Zegna worth $3,868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Ermenegildo Zegna in the 4th quarter worth approximately $28,000. Entropy Technologies LP acquired a new stake in Ermenegildo Zegna in the 4th quarter worth approximately $84,000. Mirabella Financial Services LLP acquired a new stake in Ermenegildo Zegna in the 4th quarter worth approximately $87,000. Aquatic Capital Management LLC acquired a new stake in Ermenegildo Zegna in the 4th quarter worth approximately $144,000. Finally, Next Capital Management LLC acquired a new stake in Ermenegildo Zegna in the 4th quarter worth approximately $151,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Performance

NYSE ZGN traded down $0.05 during trading on Friday, hitting $8.60. The company's stock had a trading volume of 947,863 shares, compared to its average volume of 714,726. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $7.69 and a 200 day moving average price of $8.06. The firm has a market cap of $3.50 billion, a P/E ratio of 16.23 and a beta of 0.72. Ermenegildo Zegna has a 52 week low of $6.05 and a 52 week high of $12.77.

Ermenegildo Zegna Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Monday, July 7th will be given a $0.1361 dividend. This is an increase 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 payout ratio is currently 22.64%.

Analyst Ratings Changes

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

Ermenegildo Zegna Company 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.