First Trust Advisors LP grew its stake in Eaton Vance Corp (NYSE:EV) by 382.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 282,360 shares of the asset manager’s stock after buying an additional 223,852 shares during the quarter. First Trust Advisors LP owned 0.25% of Eaton Vance worth $12,686,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in EV. Nuveen Asset Management LLC acquired a new position in shares of Eaton Vance in the second quarter valued at approximately $18,651,000. Invesco Ltd. boosted its stake in shares of Eaton Vance by 16.8% in the second quarter. Invesco Ltd. now owns 1,238,869 shares of the asset manager’s stock valued at $53,432,000 after buying an additional 178,553 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Eaton Vance by 155.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 280,210 shares of the asset manager’s stock valued at $12,085,000 after buying an additional 170,600 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Eaton Vance by 18.6% in the second quarter. Schroder Investment Management Group now owns 963,410 shares of the asset manager’s stock valued at $41,552,000 after buying an additional 151,422 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Eaton Vance by 30.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 533,693 shares of the asset manager’s stock valued at $23,018,000 after buying an additional 124,800 shares in the last quarter. Institutional investors and hedge funds own 70.42% of the company’s stock.
A number of research firms recently weighed in on EV. JPMorgan Chase & Co. decreased their price target on Eaton Vance from $44.00 to $42.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 28th. Credit Suisse Group boosted their target price on Eaton Vance from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. ValuEngine downgraded Eaton Vance from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Finally, Zacks Investment Research upgraded Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Eaton Vance presently has a consensus rating of “Hold” and an average target price of $43.00.
In other news, CEO Thomas E. Faust, Jr. sold 51,110 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $45.03, for a total value of $2,301,483.30. Also, Director Brian D. Langstraat sold 3,743 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $45.03, for a total value of $168,547.29. Insiders have sold 147,964 shares of company stock valued at $6,784,832 over the last 90 days.
Shares of NYSE:EV opened at $48.12 on Friday. The company has a market capitalization of $5.43 billion, a P/E ratio of 14.25, a P/E/G ratio of 2.45 and a beta of 1.56. The stock’s fifty day simple moving average is $45.62 and its 200-day simple moving average is $43.01. Eaton Vance Corp has a 52-week low of $32.28 and a 52-week high of $48.81. The company has a quick ratio of 11.85, a current ratio of 11.85 and a debt-to-equity ratio of 1.98.
Eaton Vance (NYSE:EV) last released its earnings results on Tuesday, August 27th. The asset manager reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The firm had revenue of $431.24 million during the quarter, compared to analyst estimates of $433.98 million. Eaton Vance had a return on equity of 35.45% and a net margin of 23.51%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. On average, sell-side analysts anticipate that Eaton Vance Corp will post 3.4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.375 per share. The ex-dividend date was Wednesday, October 30th. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.35. This represents a $1.50 annualized dividend and a yield of 3.12%. Eaton Vance’s dividend payout ratio is currently 46.73%.
Eaton Vance 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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