Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Eaton Vance Corp (NYSE:EV) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,853 shares of the asset manager’s stock, valued at approximately $2,163,000.
Several other large investors also recently modified their holdings of EV. WFG Advisors LP increased its holdings in Eaton Vance by 0.6% in the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after buying an additional 14 shares in the last quarter. Advisor Group Inc. increased its holdings in Eaton Vance by 1.0% in the 2nd quarter. Advisor Group Inc. now owns 4,782 shares of the asset manager’s stock worth $225,000 after buying an additional 47 shares in the last quarter. Utah Retirement Systems increased its holdings in Eaton Vance by 1.0% in the 2nd quarter. Utah Retirement Systems now owns 20,182 shares of the asset manager’s stock worth $955,000 after buying an additional 200 shares in the last quarter. Tredje AP fonden increased its holdings in Eaton Vance by 1.0% in the 2nd quarter. Tredje AP fonden now owns 24,630 shares of the asset manager’s stock worth $1,165,000 after buying an additional 233 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Eaton Vance by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 92,632 shares of the asset manager’s stock worth $4,383,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 68.73% of the company’s stock.
EV has been the topic of several research reports. Deutsche Bank initiated coverage on Eaton Vance in a research report on Tuesday, October 17th. They issued a “buy” rating and a $57.00 target price on the stock. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, November 2nd. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $53.00 target price on shares of Eaton Vance in a research report on Friday, November 10th. Finally, Jefferies Group reissued a “hold” rating and issued a $46.00 target price on shares of Eaton Vance in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $52.06.
Eaton Vance Corp (NYSE:EV) traded up $0.46 during mid-day trading on Friday, hitting $60.45. The stock had a trading volume of 563,279 shares, compared to its average volume of 610,033. The company has a current ratio of 5.44, a quick ratio of 5.44 and a debt-to-equity ratio of 0.62. Eaton Vance Corp has a 12-month low of $41.40 and a 12-month high of $60.85. The stock has a market cap of $7,150.00, a PE ratio of 24.98, a P/E/G ratio of 0.93 and a beta of 1.90.
Eaton Vance (NYSE:EV) last posted its quarterly earnings results on Tuesday, November 21st. The asset manager reported $0.70 EPS for the quarter, missing the Zacks’ 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 business had revenue of $405.70 million during the quarter, compared to analysts’ expectations of $407.75 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. equities analysts forecast that Eaton Vance Corp will post 3.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a $0.31 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.24 dividend on an annualized basis and a yield of 2.05%. Eaton Vance’s dividend payout ratio is presently 51.24%.
In other news, insider Payson F. Swaffield sold 71,739 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $51.81, for a total transaction of $3,716,797.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dorothy E. Puhy sold 5,953 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $51.08, for a total value of $304,079.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,146 shares of company stock worth $8,952,337.
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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