KBC Group NV boosted its stake in Eaton Vance Corp (NYSE:EV) by 65.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,354 shares of the asset manager’s stock after acquiring an additional 25,472 shares during the quarter. KBC Group NV’s holdings in Eaton Vance were worth $3,629,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. California Public Employees Retirement System grew its position in Eaton Vance by 2.6% in the 4th quarter. California Public Employees Retirement System now owns 260,793 shares of the asset manager’s stock valued at $14,706,000 after buying an additional 6,532 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Eaton Vance in the 4th quarter valued at about $1,779,000. Hyman Charles D bought a new position in Eaton Vance in the 4th quarter valued at about $209,000. ING Groep NV bought a new position in shares of Eaton Vance during the 4th quarter valued at about $429,000. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Eaton Vance by 18.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 14,150 shares of the asset manager’s stock valued at $798,000 after purchasing an additional 2,165 shares in the last quarter. Hedge funds and other institutional investors own 70.68% of the company’s stock.
In other Eaton Vance news, CEO Matthew J. Witkos sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $60.35, for a total value of $1,508,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dorothy E. Puhy sold 9,490 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $60.49, for a total transaction of $574,050.10. The disclosure for this sale can be found here.
Several equities analysts have recently weighed in on EV shares. Zacks Investment Research upgraded shares of Eaton Vance from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Jefferies Group restated a “hold” rating and set a $46.00 price objective on shares of Eaton Vance in a research report on Thursday, October 26th. Bank of America raised their price objective on shares of Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Keefe, Bruyette & Woods restated a “hold” rating and set a $53.00 price objective on shares of Eaton Vance in a research report on Friday, November 10th. Finally, ValuEngine upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Eaton Vance presently has a consensus rating of “Hold” and an average target price of $53.44.
Eaton Vance Corp (NYSE EV) opened at $55.91 on Monday. Eaton Vance Corp has a 12-month low of $42.20 and a 12-month high of $60.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.44 and a current ratio of 5.44. The firm has a market cap of $6,601.73, a PE ratio of 23.10, a PEG ratio of 0.61 and a beta of 1.79.
Eaton Vance (NYSE:EV) last announced its 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). Eaton Vance had a return on equity of 33.45% and a net margin of 18.45%. The firm had revenue of $405.70 million during the quarter, compared to analyst estimates of $407.75 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. sell-side analysts expect that Eaton Vance Corp will post 3.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Tuesday, January 30th. Eaton Vance’s payout ratio is 51.24%.
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About Eaton Vance
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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