Eaton Vance Corporation (NYSE:EV) CFO Laurie G. Hylton sold 21,371 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $50.60, for a total value of $1,081,372.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Eaton Vance Corporation (NYSE:EV) opened at 51.07 on Friday. The company has a market capitalization of $5.72 billion, a P/E ratio of 22.20 and a beta of 1.84. The firm has a 50-day moving average price of $48.26 and a 200 day moving average price of $46.87. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $51.64.
Eaton Vance Corporation (NYSE:EV) last released its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $393.70 million during the quarter, compared to analyst estimates of $398.74 million. During the same period in the previous year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts expect that Eaton Vance Corporation will post $2.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.43%. This is a boost from Eaton Vance Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, October 30th. Eaton Vance Corporation’s dividend payout ratio (DPR) is presently 48.70%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP lifted its position in shares of Eaton Vance Corporation by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after buying an additional 14 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Eaton Vance Corporation by 1.0% in the second quarter. Advisor Group Inc. now owns 4,782 shares of the asset manager’s stock valued at $225,000 after buying an additional 47 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Eaton Vance Corporation by 1.0% in the second quarter. Stratos Wealth Partners LTD. now owns 5,081 shares of the asset manager’s stock valued at $240,000 after buying an additional 49 shares during the last quarter. Bank of The West lifted its position in shares of Eaton Vance Corporation by 0.6% in the second quarter. Bank of The West now owns 7,804 shares of the asset manager’s stock valued at $369,000 after buying an additional 50 shares during the last quarter. Finally, Creative Planning lifted its position in shares of Eaton Vance Corporation by 3.3% in the second quarter. Creative Planning now owns 5,098 shares of the asset manager’s stock valued at $241,000 after buying an additional 163 shares during the last quarter. 68.91% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on EV shares. Jefferies Group LLC restated a “hold” rating and issued a $45.00 target price on shares of Eaton Vance Corporation in a report on Wednesday, June 28th. BidaskClub lowered Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Credit Suisse Group boosted their target price on Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 11th. Finally, J P Morgan Chase & Co upgraded Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 target price for the company in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $49.58.
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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