Keybank National Association OH lessened its holdings in shares of Eaton Vance Corp (NYSE:EV) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,829 shares of the asset manager’s stock after selling 5,755 shares during the quarter. Keybank National Association OH’s holdings in Eaton Vance were worth $2,598,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Yorktown Management & Research Co Inc lifted its stake in shares of Eaton Vance by 16.0% during the 3rd quarter. Yorktown Management & Research Co Inc now owns 25,400 shares of the asset manager’s stock worth $1,141,000 after purchasing an additional 3,500 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Eaton Vance by 38.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,236 shares of the asset manager’s stock worth $505,000 after purchasing an additional 3,143 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Eaton Vance by 1.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 29,244 shares of the asset manager’s stock worth $1,314,000 after purchasing an additional 282 shares during the period. California Public Employees Retirement System increased its holdings in shares of Eaton Vance by 34.9% during the 3rd quarter. California Public Employees Retirement System now owns 248,318 shares of the asset manager’s stock worth $11,157,000 after buying an additional 64,300 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its holdings in shares of Eaton Vance by 28.0% during the 3rd quarter. State of Tennessee Treasury Department now owns 165,066 shares of the asset manager’s stock worth $7,416,000 after buying an additional 36,086 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.
In related news, insider Daniel C. Cataldo sold 3,773 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $46.43, for a total value of $175,180.39. Also, CEO Thomas E. Faust, Jr. sold 54,577 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $46.43, for a total value of $2,534,010.11. Over the last 90 days, insiders have sold 147,964 shares of company stock valued at $6,784,832.
A number of research firms have recently commented on EV. 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 report on Friday, August 30th. Credit Suisse Group upped their price objective on Eaton Vance from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. dropped their price objective on Eaton Vance from $44.00 to $42.00 and set an “underweight” rating for the company in a report on Wednesday, August 28th. Finally, ValuEngine upgraded Eaton Vance from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Eaton Vance presently has an average rating of “Hold” and a consensus price target of $43.57.
Shares of EV stock traded up $0.09 on Friday, reaching $47.96. 337,218 shares of the stock were exchanged, compared to its average volume of 835,008. The stock has a market cap of $5.39 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 2.46 and a beta of 1.56. The company has a quick ratio of 11.85, a current ratio of 11.85 and a debt-to-equity ratio of 1.98. The firm has a 50 day moving average of $44.75 and a two-hundred day moving average of $42.60. Eaton Vance Corp has a 1-year low of $32.28 and a 1-year high of $48.58.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Tuesday, August 27th. The asset manager reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $431.24 million during the quarter, compared to the consensus estimate of $433.98 million. Eaton Vance had a return on equity of 35.45% and a net margin of 23.51%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities research analysts predict that Eaton Vance Corp will post 3.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from Eaton Vance’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, October 30th. Eaton Vance’s dividend payout ratio is presently 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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