15,200 Shares in Eaton Vance Corporation (EV) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in shares of Eaton Vance Corporation (NYSE:EV) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 15,200 shares of the asset manager’s stock, valued at approximately $719,000.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in Eaton Vance Corporation by 3,407.1% during the 1st quarter. BlackRock Inc. now owns 10,878,915 shares of the asset manager’s stock valued at $489,118,000 after acquiring an additional 10,568,715 shares in the last quarter. Vanguard Group Inc. boosted its position in Eaton Vance Corporation by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 10,398,957 shares of the asset manager’s stock valued at $467,537,000 after acquiring an additional 600,222 shares in the last quarter. Wells Fargo & Company MN boosted its position in Eaton Vance Corporation by 2.1% during the 2nd quarter. Wells Fargo & Company MN now owns 5,490,011 shares of the asset manager’s stock valued at $259,787,000 after acquiring an additional 113,967 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Eaton Vance Corporation by 34.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,308,194 shares of the asset manager’s stock valued at $156,544,000 after acquiring an additional 844,813 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Eaton Vance Corporation by 0.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,722,856 shares of the asset manager’s stock valued at $81,525,000 after acquiring an additional 4,538 shares in the last quarter. 68.91% of the stock is currently owned by institutional investors and hedge funds.

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Several analysts have weighed in on EV shares. Jefferies Group LLC lifted their price objective on Eaton Vance Corporation from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, May 22nd. Zacks Investment Research raised Eaton Vance Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $50.00 price target on shares of Eaton Vance Corporation in a research report on Tuesday, May 23rd. Bank of America Corporation boosted their price target on Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. boosted their price target on Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.21.

In related news, insider Jeffrey P. Beale sold 39,343 shares of Eaton Vance Corporation stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $48.30, for a total transaction of $1,900,266.90. Following the transaction, the insider now directly owns 343,509 shares of the company’s stock, valued at $16,591,484.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew J. Witkos sold 24,152 shares of Eaton Vance Corporation stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $47.65, for a total transaction of $1,150,842.80. Following the transaction, the chief executive officer now directly owns 231,477 shares in the company, valued at $11,029,879.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,410 shares of company stock worth $3,475,018.

Shares of Eaton Vance Corporation (NYSE:EV) opened at 47.16 on Friday. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $50.10. The company has a market capitalization of $5.28 billion, a PE ratio of 20.50 and a beta of 1.85. The stock has a 50 day moving average price of $47.32 and a 200-day moving average price of $46.39.

Eaton Vance Corporation (NYSE:EV) last issued its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). The business had revenue of $393.70 million for the quarter, compared to analysts’ expectations of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. Analysts forecast that Eaton Vance Corporation will post $2.46 EPS for the current year.

Eaton Vance Corporation Company 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.

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

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