Eaton Vance Corporation (NYSE:EV) Director Brian D. Langstraat sold 12,850 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $48.08, for a total value of $617,828.00. Following the sale, the director now directly owns 116,029 shares of the company’s stock, valued at $5,578,674.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Eaton Vance Corporation (EV) opened at 48.38 on Monday. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $50.10. The stock has a market cap of $5.42 billion, a PE ratio of 21.03 and a beta of 1.85. The stock has a 50 day moving average price of $47.26 and a 200-day moving average price of $46.38.
Eaton Vance Corporation (NYSE:EV) last announced its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). The firm had revenue of $393.70 million during the quarter, compared to analyst estimates of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. On average, analysts expect that Eaton Vance Corporation will post $2.46 EPS for the current year.
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Several equities research analysts recently weighed in on EV shares. Citigroup Inc. raised Eaton Vance Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $54.50 in a report on Monday, June 5th. Zacks Investment Research upgraded Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Thursday, June 8th. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Eaton Vance Corporation in a research report on Tuesday, June 6th. BidaskClub cut Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $46.00 price objective on shares of Eaton Vance Corporation in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.21.
Several institutional investors have recently made changes to their positions in EV. BlackRock Inc. lifted its holdings in shares of Eaton Vance Corporation by 3,407.1% in the first quarter. BlackRock Inc. now owns 10,878,915 shares of the asset manager’s stock valued at $489,118,000 after buying an additional 10,568,715 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Eaton Vance Corporation by 13,411.4% in the second quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock valued at $73,705,000 after buying an additional 1,546,065 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Eaton Vance Corporation by 34.3% in the second 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 buying an additional 844,813 shares during the period. Junto Capital Management LP acquired a new stake in shares of Eaton Vance Corporation in the second quarter valued at $33,813,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Eaton Vance Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 10,398,957 shares of the asset manager’s stock valued at $467,537,000 after buying an additional 600,222 shares during the period. Institutional investors and hedge funds own 68.91% of the company’s stock.
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.
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