First Trust Advisors LP increased its holdings in shares of Eaton Vance Corporation (NYSE:EV) by 11.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,516 shares of the asset manager’s stock after purchasing an additional 12,764 shares during the period. First Trust Advisors LP owned 0.11% of Eaton Vance Corporation worth $6,345,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WFG Advisors LP lifted its position in Eaton Vance Corporation by 0.6% during the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 14 shares during the last quarter. Advisor Group Inc. lifted its position in Eaton Vance Corporation by 1.0% during the second quarter. Advisor Group Inc. now owns 4,782 shares of the asset manager’s stock valued at $225,000 after acquiring an additional 47 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in Eaton Vance Corporation by 1.0% during the second quarter. Stratos Wealth Partners LTD. now owns 5,081 shares of the asset manager’s stock valued at $240,000 after acquiring an additional 49 shares during the last quarter. Creative Planning lifted its position in Eaton Vance Corporation by 3.3% during the second quarter. Creative Planning now owns 5,098 shares of the asset manager’s stock valued at $241,000 after acquiring an additional 163 shares during the last quarter. Finally, Capstone Asset Management Co. lifted its position in Eaton Vance Corporation by 1.9% during the second quarter. Capstone Asset Management Co. now owns 10,975 shares of the asset manager’s stock valued at $519,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.
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A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Credit Suisse Group increased their target price on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 11th. J P Morgan Chase & Co raised shares of Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 target price for the company in a research report on Thursday, August 24th. BidaskClub cut shares of Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $53.00 target price on shares of Eaton Vance Corporation in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $52.06.
Eaton Vance Corporation (EV) opened at $51.31 on Wednesday. The stock has a market cap of $5,911.54, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 0.97 and a beta of 1.86. Eaton Vance Corporation has a fifty-two week low of $38.98 and a fifty-two week high of $52.36. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 0.69.
Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.05). The company had revenue of $393.70 million during the quarter, compared to analysts’ expectations of $398.74 million. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. sell-side analysts expect that Eaton Vance Corporation will post 2.48 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Eaton Vance Corporation’s previous quarterly dividend of $0.28. Eaton Vance Corporation’s dividend payout ratio (DPR) is currently 53.91%.
In other news, CEO Thomas E. Faust, Jr. sold 73,982 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $48.20, for a total value of $3,565,932.40. Following the sale, the chief executive officer now owns 2,697,576 shares in the company, valued at $130,023,163.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dorothy E. Puhy sold 5,953 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $51.08, for a total transaction of $304,079.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 596,037 shares of company stock valued at $29,808,641.
About Eaton Vance Corporation
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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