Eaton Vance Corporation (EV) Receives “Hold” Rating from Jefferies Group LLC

Jefferies Group LLC reaffirmed their hold rating on shares of Eaton Vance Corporation (NYSE:EV) in a research note published on Thursday, October 26th. Jefferies Group LLC currently has a $46.00 target price on the asset manager’s stock.

A number of other equities analysts have also recently weighed in on EV. Zacks Investment Research raised Eaton Vance Corporation from a sell rating to a hold rating in a research note on Tuesday, October 24th. BidaskClub cut Eaton Vance Corporation from a sell rating to a strong sell rating in a research note on Saturday, August 19th. J P Morgan Chase & Co raised Eaton Vance Corporation from an underweight rating to a neutral rating and set a $48.00 price target on the stock in a research note on Thursday, August 24th. Deutsche Bank AG started coverage on Eaton Vance Corporation in a research note on Tuesday, October 17th. They set a buy rating and a $57.00 target price on the stock. Finally, Credit Suisse Group lifted their target price on Eaton Vance Corporation from $46.00 to $50.00 and gave the company a neutral rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $52.06.

Shares of Eaton Vance Corporation (NYSE EV) traded up $0.31 during midday trading on Thursday, hitting $50.96. 452,100 shares of the company were exchanged, compared to its average volume of 502,057. The company has a market capitalization of $5,919.67, a PE ratio of 21.78, a P/E/G ratio of 0.98 and a beta of 1.86. Eaton Vance Corporation has a fifty-two week low of $37.72 and a fifty-two week high of $52.36. The company has a current ratio of 5.74, a quick ratio of 5.74 and a debt-to-equity ratio of 0.69.

Eaton Vance Corporation (NYSE:EV) last released its earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $393.70 million for the quarter, compared to analyst estimates of $398.74 million. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. Eaton Vance Corporation’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 earnings per share. analysts expect that Eaton Vance Corporation will post 2.48 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a $0.31 dividend. 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 yield of 2.43%. The ex-dividend date of this dividend is Monday, October 30th. Eaton Vance Corporation’s payout ratio is 53.91%.

In other news, CEO Thomas E. Faust, Jr. sold 73,982 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $48.20, for a total transaction of $3,565,932.40. Following the sale, the chief executive officer now directly owns 2,697,576 shares in the company, valued at $130,023,163.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dorothy E. Puhy sold 5,953 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $51.08, for a total value of $304,079.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 596,037 shares of company stock valued at $29,808,641.

Large investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. grew its position in 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 during the period. Capital One National Association grew its position in Eaton Vance Corporation by 10.4% in the second quarter. Capital One National Association now owns 44,547 shares of the asset manager’s stock valued at $2,108,000 after acquiring an additional 4,190 shares during the period. Marshall Wace North America L.P. bought a new stake in Eaton Vance Corporation in the second quarter valued at $2,350,000. Legal & General Group Plc grew its position in Eaton Vance Corporation by 12.9% in the second quarter. Legal & General Group Plc now owns 210,367 shares of the asset manager’s stock valued at $9,956,000 after acquiring an additional 24,112 shares during the period. Finally, Pacer Advisors Inc. grew its position in Eaton Vance Corporation by 16.0% in the second quarter. Pacer Advisors Inc. now owns 18,164 shares of the asset manager’s stock valued at $860,000 after acquiring an additional 2,503 shares during the period. Hedge funds and other institutional investors own 68.31% of the company’s stock.

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.

Analyst Recommendations for Eaton Vance Corporation (NYSE:EV)

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