Great Lakes Advisors LLC boosted its position in Eaton Vance Corp (NYSE:EV) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,780 shares of the asset manager’s stock after buying an additional 732 shares during the quarter. Great Lakes Advisors LLC’s holdings in Eaton Vance were worth $1,881,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Bank of Montreal Can raised its stake in shares of Eaton Vance by 100.7% in the 2nd quarter. Bank of Montreal Can now owns 38,642 shares of the asset manager’s stock valued at $2,017,000 after purchasing an additional 19,393 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Eaton Vance by 63.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 40,943 shares of the asset manager’s stock valued at $2,137,000 after buying an additional 15,957 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Eaton Vance by 11.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,116 shares of the asset manager’s stock valued at $685,000 after buying an additional 1,343 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Eaton Vance by 12.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 404,482 shares of the asset manager’s stock valued at $21,110,000 after buying an additional 46,094 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Eaton Vance by 13.3% in the 2nd quarter. Victory Capital Management Inc. now owns 68,436 shares of the asset manager’s stock worth $3,572,000 after purchasing an additional 8,037 shares during the last quarter. Hedge funds and other institutional investors own 66.64% of the company’s stock.
In other Eaton Vance news, Director Leo I. Higdon, Jr. sold 5,943 shares of the company’s stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $43.97, for a total value of $261,313.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas E. Faust, Jr. sold 54,134 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $43.38, for a total transaction of $2,348,332.92. The disclosure for this sale can be found here. In the last three months, insiders sold 149,984 shares of company stock worth $6,618,100.
Shares of NYSE:EV opened at $38.95 on Thursday. Eaton Vance Corp has a one year low of $38.92 and a one year high of $60.95. The company has a quick ratio of 8.35, a current ratio of 5.08 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.60 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.85 and a beta of 1.64.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Tuesday, November 27th. The asset manager reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Eaton Vance had a net margin of 22.44% and a return on equity of 35.94%. The business had revenue of $435.97 million for the quarter, compared to analyst estimates of $435.02 million. As a group, equities research analysts forecast that Eaton Vance Corp will post 3.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Tuesday, October 30th. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s payout ratio is currently 43.61%.
Several research analysts have recently issued reports on EV shares. Zacks Investment Research cut shares of Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Citigroup reduced their price target 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. Deutsche Bank dropped their price objective on shares of Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 27th. ValuEngine lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Finally, Jefferies Financial Group restated a “hold” rating and set a $45.00 price target on shares of Eaton Vance in a research note on Monday, November 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $52.25.
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Eaton Vance Company 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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