Bright Rock Capital Management LLC Maintains Position in Eaton Vance Corp (EV)
Bright Rock Capital Management LLC held its stake in shares of Eaton Vance Corp (NYSE:EV) during the first quarter, Holdings Channel reports. The institutional investor owned 32,000 shares of the asset manager’s stock at the end of the first quarter. Bright Rock Capital Management LLC’s holdings in Eaton Vance Corp were worth $1,439,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Acrospire Investment Management LLC boosted its position in Eaton Vance Corp by 44.4% in the third quarter. Acrospire Investment Management LLC now owns 2,600 shares of the asset manager’s stock worth $102,000 after buying an additional 800 shares in the last quarter. CENTRAL TRUST Co boosted its position in Eaton Vance Corp by 6,356.9% in the first quarter. CENTRAL TRUST Co now owns 3,293 shares of the asset manager’s stock worth $148,000 after buying an additional 3,242 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Eaton Vance Corp during the fourth quarter worth approximately $188,000. Twin Focus Capital Partners LLC acquired a new position in Eaton Vance Corp during the fourth quarter worth approximately $209,000. Finally, Biegel & Waller LLC acquired a new position in Eaton Vance Corp during the fourth quarter worth approximately $217,000. 70.25% of the stock is currently owned by institutional investors.
Shares of Eaton Vance Corp (NYSE:EV) traded up 0.70% on Thursday, reaching $43.04. The company had a trading volume of 464,171 shares. Eaton Vance Corp has a 1-year low of $32.97 and a 1-year high of $47.83. The company’s 50 day moving average price is $45.03 and its 200-day moving average price is $41.95. The stock has a market capitalization of $4.76 billion, a P/E ratio of 20.02 and a beta of 1.79.
Eaton Vance Corp (NYSE:EV) last issued its earnings results on Wednesday, February 22nd. The asset manager reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $354.95 million for the quarter, compared to analyst estimates of $351.22 million. Eaton Vance Corp had a return on equity of 38.30% and a net margin of 17.97%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities analysts predict that Eaton Vance Corp will post $2.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 28th will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, April 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.60%. Eaton Vance Corp’s payout ratio is currently 53.33%.
EV has been the topic of a number of analyst reports. Zacks Investment Research cut Eaton Vance Corp from a “buy” rating to a “hold” rating in a research note on Monday, February 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 target price on shares of Eaton Vance Corp in a research note on Friday, March 24th. Bank of America Corp raised Eaton Vance Corp from an “underperform” rating to a “neutral” rating in a research note on Tuesday, February 21st. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Eaton Vance Corp in a research note on Thursday, January 12th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.75.
In related news, CEO Matthew J. Witkos sold 84,085 shares of the business’s stock in a transaction on Friday, January 20th. The shares were sold at an average price of $42.83, for a total transaction of $3,601,360.55. Following the completion of the transaction, the chief executive officer now owns 287,773 shares in the company, valued at $12,325,317.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Frederick S. Marius sold 45,893 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $43.71, for a total transaction of $2,005,983.03. Following the completion of the sale, the insider now directly owns 35,042 shares of the company’s stock, valued at $1,531,685.82. The disclosure for this sale can be found here.
About Eaton Vance Corp
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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