Connable Office Inc. Acquires New Position in Eaton Vance Corporation (EV)

Connable Office Inc. acquired a new position in Eaton Vance Corporation (NYSE:EV) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,395 shares of the asset manager’s stock, valued at approximately $208,000.

A number of other large investors also recently modified their holdings of the company. TrimTabs Asset Management LLC raised its stake in shares of Eaton Vance Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager’s stock worth $122,000 after buying an additional 1,272 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Eaton Vance Corporation by 20.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager’s stock worth $130,000 after buying an additional 501 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Eaton Vance Corporation by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager’s stock worth $127,000 after buying an additional 148 shares in the last quarter. CENTRAL TRUST Co raised its stake 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 worth $148,000 after buying an additional 3,242 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Eaton Vance Corporation by 131.9% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock worth $150,000 after buying an additional 1,900 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Vance Corporation (EV) opened at 47.32 on Friday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 20.75 and a beta of 1.84. Eaton Vance Corporation has a 52 week low of $34.44 and a 52 week high of $50.10. The stock has a 50 day moving average of $48.14 and a 200 day moving average of $45.82.

Eaton Vance Corporation (NYSE:EV) last announced its earnings results on Wednesday, May 24th. The asset manager reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Eaton Vance Corporation had a return on equity of 36.63% and a net margin of 18.39%. The business had revenue of $374.60 million for the quarter, compared to analysts’ expectations of $373.28 million. During the same period in the prior year, the business posted $0.48 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that Eaton Vance Corporation will post $2.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, July 27th. Eaton Vance Corporation’s payout ratio is presently 49.34%.

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A number of equities research analysts have commented on the stock. Credit Suisse Group increased their price objective on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday. Zacks Investment Research lowered shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $45.00 target price on shares of Eaton Vance Corporation in a research note on Wednesday, June 28th. BidaskClub lowered shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 target price on shares of Eaton Vance Corporation in a research note on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Eaton Vance Corporation has a consensus rating of “Hold” and a consensus target price of $49.93.

In other Eaton Vance Corporation news, Director Dorothy E. Puhy sold 2,563 shares of the 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 transaction, the director now directly owns 14,473 shares in the company, valued at approximately $701,361.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Witkos sold 24,152 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $47.65, for a total value of $1,150,842.80. Following the transaction, the chief executive officer now owns 231,477 shares in the company, valued at $11,029,879.05. The disclosure for this sale can be found here. Insiders sold 127,943 shares of company stock worth $6,149,649 over the last quarter.

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.

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Institutional Ownership by Quarter for Eaton Vance Corporation (NYSE:EV)

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