Nomura Asset Management Co. Ltd. boosted its stake in shares of Eaton Vance Corp (NYSE:EV) by 9.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,850 shares of the asset manager’s stock after purchasing an additional 1,400 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Eaton Vance were worth $950,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. AMP Capital Investors Ltd grew its position in Eaton Vance by 37.5% during the 4th quarter. AMP Capital Investors Ltd now owns 69,982 shares of the asset manager’s stock worth $3,946,000 after purchasing an additional 19,076 shares during the period. Thrivent Financial For Lutherans grew its position in Eaton Vance by 4.9% during the 4th quarter. Thrivent Financial For Lutherans now owns 25,708 shares of the asset manager’s stock worth $1,450,000 after purchasing an additional 1,198 shares during the period. Profund Advisors LLC grew its position in Eaton Vance by 8.9% during the 4th quarter. Profund Advisors LLC now owns 14,384 shares of the asset manager’s stock worth $811,000 after purchasing an additional 1,174 shares during the period. Renaissance Technologies LLC acquired a new stake in Eaton Vance during the 4th quarter worth about $8,380,000. Finally, Koch Industries Inc. acquired a new stake in Eaton Vance during the 4th quarter worth about $219,000. 70.59% of the stock is currently owned by institutional investors.
EV has been the topic of a number of analyst reports. ValuEngine upgraded Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. JPMorgan Chase & Co. set a $58.00 target price on Eaton Vance and gave the company a “hold” rating in a research report on Wednesday, February 21st. Zacks Investment Research upgraded Eaton Vance from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, January 23rd. Finally, Deutsche Bank dropped their target price on Eaton Vance from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.19.
In related news, CEO Matthew J. Witkos sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $60.35, for a total value of $1,508,750.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dorothy E. Puhy sold 9,490 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $60.49, for a total transaction of $574,050.10. The disclosure for this sale can be found here.
Shares of Eaton Vance stock opened at $57.10 on Monday. Eaton Vance Corp has a 12-month low of $42.20 and a 12-month high of $60.95. The company has a debt-to-equity ratio of 0.60, a quick ratio of 9.40 and a current ratio of 9.40. The company has a market capitalization of $6,856.04, a PE ratio of 20.99, a PEG ratio of 0.66 and a beta of 1.79.
Eaton Vance (NYSE:EV) last posted its earnings results on Tuesday, February 27th. The asset manager reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. Eaton Vance had a return on equity of 34.09% and a net margin of 18.77%. The firm had revenue of $421.40 million for the quarter, compared to analysts’ expectations of $420.62 million. During the same period last year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 18.7% on a year-over-year basis. analysts predict that Eaton Vance Corp will post 3.35 earnings per share for the current fiscal year.
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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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