Federated Hermes Inc. Has $2.88 Million Position in Ermenegildo Zegna N.V. $ZGN

Federated Hermes Inc. grew its position in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) by 38.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 304,206 shares of the company’s stock after purchasing an additional 84,206 shares during the quarter. Federated Hermes Inc. owned approximately 0.07% of Ermenegildo Zegna worth $2,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC acquired a new stake in Ermenegildo Zegna during the 3rd quarter worth approximately $25,000. California State Teachers Retirement System acquired a new position in shares of Ermenegildo Zegna during the second quarter worth $33,000. Ameritas Investment Partners Inc. bought a new stake in shares of Ermenegildo Zegna in the second quarter worth $54,000. Lazard Asset Management LLC bought a new stake in shares of Ermenegildo Zegna in the second quarter worth $54,000. Finally, Legal & General Group Plc acquired a new stake in Ermenegildo Zegna in the second quarter valued at $59,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Ermenegildo Zegna Trading Up 3.3%

Shares of NYSE:ZGN opened at $9.30 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18. Ermenegildo Zegna N.V. has a 52-week low of $6.05 and a 52-week high of $11.07. The business’s 50 day simple moving average is $10.25 and its two-hundred day simple moving average is $9.59.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America reissued a “neutral” rating and issued a $11.20 price target (down previously from $11.50) on shares of Ermenegildo Zegna in a research note on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, January 21st. Jefferies Financial Group assumed coverage on shares of Ermenegildo Zegna in a research report on Tuesday, October 14th. They set a “buy” rating and a $12.90 price objective for the company. Sanford C. Bernstein assumed coverage on Ermenegildo Zegna in a report on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price target for the company. Finally, UBS Group boosted their price objective on Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Ermenegildo Zegna has a consensus rating of “Hold” and a consensus price target of $11.37.

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.