Eaton Vance Corp (EV) Position Cut by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in shares of Eaton Vance Corp (NYSE:EV) by 37.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,623 shares of the asset manager’s stock after selling 9,238 shares during the period. Hsbc Holdings PLC’s holdings in Eaton Vance were worth $870,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GWM Advisors LLC increased its position in shares of Eaton Vance by 13.1% during the fourth quarter. GWM Advisors LLC now owns 9,610 shares of the asset manager’s stock valued at $561,000 after acquiring an additional 1,113 shares during the last quarter. Profund Advisors LLC increased its position in shares of Eaton Vance by 8.9% during the fourth quarter. Profund Advisors LLC now owns 14,384 shares of the asset manager’s stock valued at $811,000 after acquiring an additional 1,174 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Eaton Vance by 4.9% during the fourth quarter. Thrivent Financial For Lutherans now owns 25,708 shares of the asset manager’s stock valued at $1,450,000 after acquiring an additional 1,198 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Eaton Vance by 18.1% during the first quarter. Toronto Dominion Bank now owns 8,083 shares of the asset manager’s stock valued at $450,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Eaton Vance by 1.5% during the first quarter. Comerica Bank now owns 94,016 shares of the asset manager’s stock valued at $5,212,000 after acquiring an additional 1,362 shares during the last quarter. Hedge funds and other institutional investors own 68.98% of the company’s stock.

NYSE EV opened at $54.96 on Friday. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.67. Eaton Vance Corp has a one year low of $45.06 and a one year high of $60.95. The company has a market capitalization of $6.54 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 0.89 and a beta of 1.69.

Eaton Vance (NYSE:EV) last posted its quarterly earnings data on Tuesday, May 22nd. The asset manager reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Eaton Vance had a net margin of 19.82% and a return on equity of 33.96%. The business had revenue of $414.30 million during the quarter, compared to analyst estimates of $421.71 million. During the same quarter last year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. equities research analysts anticipate that Eaton Vance Corp will post 3.2 earnings per share for the current year.

A number of equities research analysts have weighed in on the stock. ValuEngine cut shares of Eaton Vance from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Zacks Investment Research cut shares of Eaton Vance from a “hold” rating to a “strong sell” rating in a research report on Friday, May 25th. Citigroup lowered their price objective on shares of Eaton Vance from $65.50 to $62.00 and set a “buy” rating for the company in a research note on Thursday, May 31st. Deutsche Bank lowered their price objective on shares of Eaton Vance from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, March 6th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $59.00 price objective on shares of Eaton Vance in a research note on Wednesday, April 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.63.

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

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