Assenagon Asset Management S.A. lessened its stake in Eaton Vance Corp (NYSE:EV) by 88.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,427 shares of the asset manager’s stock after selling 359,465 shares during the period. Assenagon Asset Management S.A.’s holdings in Eaton Vance were worth $2,493,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Cerebellum GP LLC raised its position in Eaton Vance by 525.0% in the 3rd quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock worth $175,000 after purchasing an additional 2,793 shares during the last quarter. Sit Investment Associates Inc. raised its position in Eaton Vance by 44.3% in the 2nd quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock worth $183,000 after purchasing an additional 1,075 shares during the last quarter. Korea Investment CORP bought a new position in Eaton Vance in the 2nd quarter worth approximately $193,000. Daiwa SB Investments Ltd. bought a new stake in shares of Eaton Vance during the 3rd quarter valued at $200,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Eaton Vance during the 2nd quarter valued at $227,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.
Shares of Eaton Vance stock opened at $44.35 on Wednesday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 0.67 and a beta of 1.65. Eaton Vance Corp has a 52 week low of $42.16 and a 52 week high of $60.95. The company has a debt-to-equity ratio of 1.14, a current ratio of 8.35 and a quick ratio of 8.35.
Eaton Vance (NYSE:EV) last issued its earnings results on Wednesday, August 29th. The asset manager reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $430.11 million. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. As a group, sell-side analysts forecast that Eaton Vance Corp will post 3.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.35 per share. This is a boost from Eaton Vance’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.16%. Eaton Vance’s payout ratio is presently 56.45%.
In related news, Director Brian D. Langstraat sold 13,000 shares of the company’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $47.50, for a total value of $617,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas E. Faust, Jr. sold 33,407 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $45.50, for a total transaction of $1,520,018.50. The disclosure for this sale can be found here. Insiders have sold a total of 149,984 shares of company stock valued at $6,618,100 in the last quarter.
EV has been the subject of several recent research reports. Deutsche Bank dropped their target price on shares of Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, September 27th. Citigroup dropped their target price on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a research report on Thursday, August 30th. ValuEngine cut shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, Zacks Investment Research cut shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Eaton Vance presently has a consensus rating of “Hold” and an average target price of $60.07.
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Eaton Vance Profile
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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