Rhumbline Advisers Reduces Holdings in Eaton Vance Corp (EV)

Share on StockTwits

Rhumbline Advisers reduced its position in Eaton Vance Corp (NYSE:EV) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 257,304 shares of the asset manager’s stock after selling 4,977 shares during the period. Rhumbline Advisers owned about 0.22% of Eaton Vance worth $13,429,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Sit Investment Associates Inc. increased its holdings in shares of Eaton Vance by 44.3% during the 2nd quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after acquiring an additional 1,075 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Eaton Vance by 18.1% during the 1st 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. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Eaton Vance by 11.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,116 shares of the asset manager’s stock valued at $685,000 after acquiring an additional 1,343 shares during the last quarter. Comerica Bank increased its holdings in shares of Eaton Vance by 1.5% during the 1st 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. Finally, State Treasurer State of Michigan increased its holdings in shares of Eaton Vance by 3.3% during the 1st quarter. State Treasurer State of Michigan now owns 43,800 shares of the asset manager’s stock valued at $2,438,000 after acquiring an additional 1,400 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Shares of EV opened at $53.48 on Wednesday. Eaton Vance Corp has a 1 year low of $45.06 and a 1 year high of $60.95. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $6.33 billion, a PE ratio of 21.56, a P/E/G ratio of 0.89 and a beta of 1.64.

Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, May 22nd. The asset manager reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. Eaton Vance had a return on equity of 33.96% and a net margin of 19.82%. The business had revenue of $414.30 million during the quarter, compared to analysts’ expectations of $421.71 million. During the same period in the prior year, the firm posted $0.62 EPS. Eaton Vance’s quarterly revenue was up 10.6% compared to the same quarter last year. equities research analysts expect that Eaton Vance Corp will post 3.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st were issued a $0.31 dividend. The ex-dividend date was Monday, July 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.32%. Eaton Vance’s payout ratio is presently 50.00%.

Several analysts recently weighed in on EV shares. Zacks Investment Research downgraded Eaton Vance from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Citigroup reduced their price objective on Eaton Vance from $65.50 to $62.00 and set a “buy” rating for the company in a research report on Thursday, May 31st. ValuEngine downgraded Eaton Vance from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Credit Suisse Group increased their target price on Eaton Vance from $57.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, May 23rd. Finally, Bank of America raised Eaton Vance from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $58.63.

About Eaton Vance

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.

Further Reading: Earnings Per Share (EPS) Explained

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

Receive News & Ratings for Eaton Vance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Vance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply