IFG Advisory LLC increased its stake in shares of Eaton Vance Corp (NYSE:EV) by 38.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,592 shares of the asset manager’s stock after buying an additional 3,777 shares during the quarter. IFG Advisory LLC’s holdings in Eaton Vance were worth $535,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Eaton Vance by 2.3% during the second quarter. BlackRock Inc. now owns 11,879,833 shares of the asset manager’s stock worth $620,009,000 after buying an additional 270,518 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Eaton Vance by 3.9% during the second quarter. Wells Fargo & Company MN now owns 5,254,672 shares of the asset manager’s stock worth $274,240,000 after buying an additional 195,599 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Eaton Vance by 11.7% during the second quarter. Janus Henderson Group PLC now owns 2,145,962 shares of the asset manager’s stock worth $111,998,000 after buying an additional 224,463 shares in the last quarter. Northern Trust Corp grew its holdings in Eaton Vance by 0.7% during the second quarter. Northern Trust Corp now owns 1,206,053 shares of the asset manager’s stock worth $62,945,000 after buying an additional 8,815 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Eaton Vance by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 987,483 shares of the asset manager’s stock worth $51,536,000 after buying an additional 19,976 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.
Shares of NYSE:EV opened at $44.18 on Friday. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.65. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.14. Eaton Vance Corp has a 1 year low of $42.16 and a 1 year high of $60.95.
Eaton Vance (NYSE:EV) last announced its quarterly earnings data on Wednesday, August 29th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $430.60 million during the quarter, compared to the consensus estimate of $430.11 million. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. On average, equities analysts forecast that Eaton Vance Corp will post 3.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, October 30th. This is an increase from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s dividend payout ratio is 56.45%.
A number of brokerages have issued reports on EV. 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 $62.00 to $60.50 and set a “buy” rating for the company in a research note on Thursday, August 30th. ValuEngine downgraded Eaton Vance from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Finally, Deutsche Bank reduced their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $60.07.
In other news, CEO Thomas E. Faust, Jr. sold 54,134 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $43.38, for a total transaction of $2,348,332.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas E. Faust, Jr. sold 33,407 shares of the stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $45.50, for a total value of $1,520,018.50. The disclosure for this sale can be found here. Insiders sold a total of 149,984 shares of company stock valued at $6,618,100 in the last 90 days.
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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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