Sei Investments Co. Sells 60,024 Shares of Ermenegildo Zegna N.V. $ZGN

Sei Investments Co. lessened its holdings in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) by 13.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 392,213 shares of the company’s stock after selling 60,024 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Ermenegildo Zegna worth $4,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ZGN. California State Teachers Retirement System bought a new position in Ermenegildo Zegna in the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd grew its holdings in Ermenegildo Zegna by 11,382.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock valued at $40,000 after purchasing an additional 3,870 shares during the period. Lazard Asset Management LLC bought a new stake in Ermenegildo Zegna during the second quarter valued at about $54,000. Parallel Advisors LLC purchased a new stake in Ermenegildo Zegna in the fourth quarter worth about $69,000. Finally, Legal & General Group Plc purchased a new stake in Ermenegildo Zegna in the second quarter worth about $59,000. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Performance

Shares of ZGN stock opened at $14.81 on Friday. Ermenegildo Zegna N.V. has a 52 week low of $7.62 and a 52 week high of $15.95. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $14.08 and its two-hundred day simple moving average is $12.17.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZGN. JPMorgan Chase & Co. lifted their price objective on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Friday, July 17th. TD Cowen raised their target price on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. UBS Group reaffirmed a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. Finally, The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their price target for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.23.

Ermenegildo Zegna Company 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.