US Bancorp DE lowered its stake in Eaton Vance Corporation (NYSE:EV) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,551 shares of the asset manager’s stock after selling 127 shares during the period. US Bancorp DE’s holdings in Eaton Vance Corporation were worth $1,351,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital One National Association raised its position in shares of 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 buying an additional 4,190 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Eaton Vance Corporation by 4.5% in the first quarter. HighTower Advisors LLC now owns 166,598 shares of the asset manager’s stock valued at $7,426,000 after buying an additional 7,172 shares during the last quarter. CENTRAL TRUST Co raised its position in shares of Eaton Vance Corporation by 6,356.9% in the first quarter. CENTRAL TRUST Co now owns 3,293 shares of the asset manager’s stock valued at $148,000 after buying an additional 3,242 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Eaton Vance Corporation by 13.9% in the first quarter. Ameriprise Financial Inc. now owns 577,224 shares of the asset manager’s stock valued at $25,953,000 after buying an additional 70,538 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Eaton Vance Corporation by 22.9% in the first quarter. UBS Group AG now owns 132,230 shares of the asset manager’s stock valued at $5,945,000 after buying an additional 24,680 shares during the last quarter. 71.20% of the stock is owned by institutional investors.
Eaton Vance Corporation (NYSE:EV) traded up 0.5793% during mid-day trading on Monday, reaching $48.6301. The company had a trading volume of 103,329 shares. Eaton Vance Corporation has a 1-year low of $34.44 and a 1-year high of $50.10. The firm has a 50-day moving average of $48.18 and a 200 day moving average of $45.57. The company has a market capitalization of $5.39 billion, a PE ratio of 21.3196 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings data on Wednesday, May 24th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $374.60 million during the quarter, compared to analyst estimates of $373.28 million. Eaton Vance Corporation had a return on equity of 36.63% and a net margin of 18.39%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.48 EPS. On average, analysts predict that Eaton Vance Corporation will post $2.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Thursday, July 27th. Eaton Vance Corporation’s payout ratio is 49.34%.
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A number of analysts recently weighed in on EV shares. Citigroup Inc. boosted their target price on Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. Zacks Investment Research upgraded Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Thursday, June 8th. Bank of America Corporation boosted their target price on Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $50.00 target price on shares of Eaton Vance Corporation in a research report on Tuesday, May 23rd. Finally, Jefferies Group LLC boosted their target price on Eaton Vance Corporation from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Eaton Vance Corporation presently has a consensus rating of “Hold” and an average price target of $48.07.
In related news, Director Dorothy E. Puhy sold 2,563 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $48.46, for a total transaction of $124,202.98. Following the completion of the sale, the director now directly owns 14,473 shares of the company’s stock, valued at approximately $701,361.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Witkos sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $48.08, for a total value of $1,923,200.00. Following the sale, the chief executive officer now directly owns 243,688 shares of the company’s stock, valued at $11,716,519.04. The disclosure for this sale can be found here. Insiders sold a total of 127,943 shares of company stock valued at $6,149,649 over the last ninety days.
Eaton Vance Corporation 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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