State of New Jersey Common Pension Fund D bought a new position in shares of Eaton Vance Corp (NYSE:EV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 90,700 shares of the asset manager’s stock, valued at approximately $4,075,000. State of New Jersey Common Pension Fund D owned about 0.08% of Eaton Vance as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC bought a new stake in Eaton Vance in the second quarter valued at about $18,651,000. Invesco Ltd. grew its holdings in shares of Eaton Vance by 16.8% during the second quarter. Invesco Ltd. now owns 1,238,869 shares of the asset manager’s stock valued at $53,432,000 after purchasing an additional 178,553 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Eaton Vance by 155.6% during 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 purchasing an additional 170,600 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Eaton Vance by 18.6% during the second quarter. Schroder Investment Management Group now owns 963,410 shares of the asset manager’s stock valued at $41,552,000 after purchasing an additional 151,422 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Eaton Vance by 30.5% during 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 purchasing an additional 124,800 shares during the last quarter. 70.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Daniel C. Cataldo sold 3,773 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $46.43, for a total value of $175,180.39. Also, CEO Thomas E. Faust, Jr. sold 51,110 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 transaction of $2,301,483.30. Insiders have sold 147,964 shares of company stock valued at $6,784,832 over the last 90 days.
Shares of NYSE EV traded up $0.56 during mid-day trading on Monday, reaching $48.68. The company had a trading volume of 905,628 shares, compared to its average volume of 820,591. Eaton Vance Corp has a twelve month low of $32.28 and a twelve month high of $48.85. The company has a debt-to-equity ratio of 1.98, a quick ratio of 11.85 and a current ratio of 11.85. The stock has a market capitalization of $5.44 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.45 and a beta of 1.56. The stock’s 50 day moving average is $45.97 and its 200-day moving average is $43.12.
Eaton Vance (NYSE:EV) last issued its quarterly earnings data on Tuesday, August 27th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. The firm had revenue of $431.24 million during the quarter, compared to analysts’ expectations of $433.98 million. Eaton Vance had a net margin of 23.51% and a return on equity of 35.45%. Eaton Vance’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. On average, sell-side analysts anticipate that Eaton Vance Corp will post 3.4 EPS 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 issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 3.08%. This is a boost from Eaton Vance’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, October 30th. Eaton Vance’s dividend payout ratio is 46.73%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. cut their target price on Eaton Vance from $44.00 to $42.00 and set an “underweight” rating for the company 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, Credit Suisse Group upped 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. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $43.00.
Eaton Vance Company 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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