Eaton Vance Corp (NYSE:EV) CEO Matthew J. Witkos sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $60.35, for a total value of $1,508,750.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Eaton Vance Corp (NYSE:EV) opened at $59.90 on Friday. The company has a current ratio of 5.44, a quick ratio of 5.44 and a debt-to-equity ratio of 0.62. Eaton Vance Corp has a twelve month low of $41.40 and a twelve month high of $60.87. The stock has a market capitalization of $7,100.00, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 0.90 and a beta of 1.90.
Eaton Vance (NYSE:EV) last posted its quarterly earnings data on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). Eaton Vance had a return on equity of 33.45% and a net margin of 18.45%. The business had revenue of $405.70 million for the quarter, compared to analysts’ expectations of $407.75 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Eaton Vance’s revenue for the quarter was up 17.0% compared to the same quarter last year. equities analysts anticipate that Eaton Vance Corp will post 3.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.24 annualized dividend and a yield of 2.07%. Eaton Vance’s dividend payout ratio is presently 51.24%.
A number of hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. increased its holdings in shares of Eaton Vance by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 92,632 shares of the asset manager’s stock valued at $4,383,000 after acquiring an additional 280 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Eaton Vance by 45.4% in the 2nd quarter. Franklin Resources Inc. now owns 50,497 shares of the asset manager’s stock valued at $2,389,000 after acquiring an additional 15,764 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Eaton Vance by 1.1% in the 2nd quarter. Alliancebernstein L.P. now owns 72,033 shares of the asset manager’s stock valued at $3,409,000 after acquiring an additional 803 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Eaton Vance by 44.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock valued at $199,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in shares of Eaton Vance by 53.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 9,055 shares of the asset manager’s stock valued at $429,000 after acquiring an additional 3,155 shares during the last quarter. Institutional investors own 68.73% of the company’s stock.
EV has been the topic of several analyst reports. Jefferies Group reiterated a “hold” rating and set a $46.00 target price on shares of Eaton Vance in a report on Thursday, October 26th. Bank of America raised their target price on Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. ValuEngine upgraded Eaton Vance from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Zacks Investment Research upgraded Eaton Vance from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Deutsche Bank initiated coverage on Eaton Vance in a report on Tuesday, October 17th. They set a “buy” rating and a $57.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.06.
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Eaton Vance Company Profile
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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