Public Employees Retirement System of Ohio boosted its stake in Eaton Vance Corp (NYSE:EV) by 25.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,347 shares of the asset manager’s stock after buying an additional 13,675 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Eaton Vance worth $3,325,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of Eaton Vance by 17.6% during the third quarter. Janney Montgomery Scott LLC now owns 22,606 shares of the asset manager’s stock valued at $1,116,000 after acquiring an additional 3,382 shares in the last quarter. Cambria Investment Management L.P. grew its position in Eaton Vance by 183.3% in the 3rd quarter. Cambria Investment Management L.P. now owns 121,963 shares of the asset manager’s stock worth $6,021,000 after purchasing an additional 78,913 shares during the period. Point72 Asset Management L.P. bought a new stake in Eaton Vance in the 3rd quarter worth approximately $760,000. Crestline Management LP bought a new stake in Eaton Vance in the 3rd quarter worth approximately $1,820,000. Finally, U S Global Investors Inc. bought a new stake in Eaton Vance in the 3rd quarter worth approximately $1,358,000. Institutional investors and hedge funds own 68.73% of the company’s stock.
A number of equities research analysts have recently issued reports on EV shares. Zacks Investment Research downgraded shares of Eaton Vance from a “buy” rating to a “hold” rating in a research report on Monday, November 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $53.00 price objective on shares of Eaton Vance in a research report on Friday, November 10th. Jefferies Group restated a “hold” rating and set a $46.00 target price on shares of Eaton Vance in a research note on Thursday, October 26th. ValuEngine upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Finally, Bank of America lifted their target price on shares of Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.06.
In related news, Director Dorothy E. Puhy sold 5,953 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $51.08, for a total transaction of $304,079.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey P. Beale sold 24,140 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $51.36, for a total transaction of $1,239,830.40. The disclosure for this sale can be found here. Insiders sold a total of 174,146 shares of company stock valued at $8,952,337 in the last ninety days.
Eaton Vance Corp (NYSE EV) opened at $60.45 on Friday. The company has a market cap of $7,083.49, a PE ratio of 24.98, a P/E/G ratio of 0.90 and a beta of 1.90. Eaton Vance Corp has a fifty-two week low of $41.40 and a fifty-two week high of $60.85. The company has a current ratio of 5.44, a quick ratio of 5.44 and a debt-to-equity ratio of 0.62.
Eaton Vance (NYSE:EV) last issued its quarterly earnings results on Tuesday, November 21st. The asset manager reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). The firm had revenue of $405.70 million for the quarter, compared to the consensus estimate of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. equities analysts predict that Eaton Vance Corp will post 3.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a $0.31 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.05%. Eaton Vance’s payout ratio is presently 51.24%.
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Eaton Vance Profile
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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