J P Morgan Chase & Co upgraded shares of Eaton Vance Corporation (NYSE:EV) from an underweight rating to a neutral rating in a research report report published on Thursday morning, MarketBeat Ratings reports. J P Morgan Chase & Co currently has $48.00 price target on the asset manager’s stock.
Several other analysts have also issued reports on EV. Zacks Investment Research lowered Eaton Vance Corporation from a hold rating to a sell rating in a report on Monday, May 1st. Jefferies Group LLC boosted their price target on Eaton Vance Corporation from $42.00 to $45.00 and gave the company a hold rating in a report on Monday, May 22nd. Keefe, Bruyette & Woods reissued a hold rating and set a $50.00 price target on shares of Eaton Vance Corporation in a report on Tuesday, May 23rd. Bank of America Corporation boosted their price target on Eaton Vance Corporation from $47.00 to $49.00 and gave the company a neutral rating in a report on Thursday, May 25th. Finally, Citigroup Inc. boosted their price target on Eaton Vance Corporation from $46.50 to $51.00 and gave the company a neutral rating in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $50.21.
Eaton Vance Corporation (EV) traded up 0.51% during midday trading on Thursday, hitting $47.00. The stock had a trading volume of 468,540 shares. Eaton Vance Corporation has a 52 week low of $34.44 and a 52 week high of $50.10. The company has a 50-day moving average price of $48.07 and a 200-day moving average price of $46.15. The stock has a market cap of $5.23 billion, a P/E ratio of 20.43 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last released its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.05. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The company had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. During the same period in the prior year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts expect that Eaton Vance Corporation will post $2.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a $0.28 dividend. The ex-dividend date was Thursday, July 27th. This represents a $1.12 annualized dividend and a dividend yield of 2.38%. Eaton Vance Corporation’s payout ratio is 48.70%.
In other news, CEO Matthew J. Witkos sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 243,688 shares in the company, valued at $11,716,519.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dorothy E. Puhy sold 2,563 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $48.46, for a total value of $124,202.98. Following the completion of the transaction, the director now owns 14,473 shares in the company, valued at $701,361.58. The disclosure for this sale can be found here. Insiders sold 127,943 shares of company stock worth $6,149,649 over the last 90 days.
Institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC increased its position in shares of Eaton Vance Corporation by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 145,659 shares of the asset manager’s stock valued at $6,100,000 after buying an additional 2,732 shares during the last quarter. Bank of Montreal Can increased its position in shares of Eaton Vance Corporation by 1.0% in the first quarter. Bank of Montreal Can now owns 70,842 shares of the asset manager’s stock valued at $3,185,000 after buying an additional 703 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Eaton Vance Corporation by 2.5% in the first quarter. Capstone Asset Management Co. now owns 10,775 shares of the asset manager’s stock valued at $484,000 after buying an additional 260 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Eaton Vance Corporation by 1.2% in the first quarter. Retirement Systems of Alabama now owns 148,170 shares of the asset manager’s stock valued at $6,662,000 after buying an additional 1,699 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position 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 valued at $127,000 after buying an additional 148 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.
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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