Eaton Vance Corporation (NYSE:EV) CEO Thomas E. Faust, Jr. sold 72,314 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $51.05, for a total transaction of $3,691,629.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Eaton Vance Corporation (EV) traded down 0.49% on Friday, reaching $51.17. 24,345 shares of the company were exchanged. The stock has a 50 day moving average of $49.16 and a 200 day moving average of $47.28. The firm has a market capitalization of $5.73 billion, a PE ratio of 22.25 and a beta of 1.84. Eaton Vance Corporation has a 12-month low of $34.44 and a 12-month high of $52.36.
Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). The firm had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. Equities analysts anticipate that Eaton Vance Corporation will post $2.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change from Eaton Vance Corporation’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 2.41%. Eaton Vance Corporation’s dividend payout ratio is presently 48.70%.
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EV has been the subject of several research analyst reports. Deutsche Bank AG initiated coverage on shares of Eaton Vance Corporation in a research report on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price target for the company. Zacks Investment Research downgraded shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “hold” rating and issued a $46.00 price target on shares of Eaton Vance Corporation in a research report on Friday, August 18th. JPMorgan Chase & Co. upgraded shares of Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 target price for the company in a research report on Thursday, August 24th. Finally, Credit Suisse Group increased their target price on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $50.64.
Several institutional investors and hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of Eaton Vance Corporation by 437.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock valued at $100,000 after acquiring an additional 1,653 shares in the last quarter. WFG Advisors LP grew its stake in shares of Eaton Vance Corporation by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 14 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in Eaton Vance Corporation during the second quarter worth about $166,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Eaton Vance Corporation by 53.8% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock worth $180,000 after buying an additional 1,400 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Eaton Vance Corporation by 44.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock worth $199,000 after buying an additional 1,296 shares in the last quarter. 68.86% of the stock is currently owned by institutional investors.
About Eaton Vance Corporation
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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