Eaton Vance Corp. (NYSE:EV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Eaton Vance Corp.’s principal business is creating, marketing and managing investment funds and providing investment management and counseling services to institutions and individuals.The Company conducts its investment management and counseling business through two wholly-owned subsidiaries, Eaton Vance Management and Boston Management and Research.The Company’s growth has resulted from its ability to develop, offer successfully and manage effectively new funds and to increase the assets of existing Eaton Vance Funds. “

A number of other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Eaton Vance Corp. in a research note on Sunday, May 29th. Jefferies Group reiterated a “hold” rating and set a $34.00 target price (up from $30.00) on shares of Eaton Vance Corp. in a research note on Thursday, May 19th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $37.00 target price on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $37.54.

Eaton Vance Corp. (NYSE:EV) opened at 38.33 on Thursday. The firm has a market capitalization of $4.18 billion, a P/E ratio of 18.41 and a beta of 1.70. The company has a 50 day moving average of $38.88 and a 200 day moving average of $35.65. Eaton Vance Corp. has a 1-year low of $26.44 and a 1-year high of $40.36.

Eaton Vance Corp. (NYSE:EV) last issued its quarterly earnings data on Wednesday, August 17th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Eaton Vance Corp. had a return on equity of 39.06% and a net margin of 17.83%. The business had revenue of $341.20 million for the quarter. During the same quarter last year, the business posted $0.57 earnings per share. Eaton Vance Corp.’s revenue was down 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Eaton Vance Corp. will post $2.14 earnings per share for the current year.

In other Eaton Vance Corp. news, CEO Matthew J. Witkos sold 94,408 shares of Eaton Vance Corp. stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $40.08, for a total transaction of $3,783,872.64. Following the completion of the transaction, the chief executive officer now owns 197,077 shares of the company’s stock, valued at approximately $7,898,846.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Beale sold 53,153 shares of Eaton Vance Corp. stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $39.58, for a total value of $2,103,795.74. Following the transaction, the insider now directly owns 327,591 shares of the company’s stock, valued at approximately $12,966,051.78. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Eaton Vance Corp. by 9.9% in the first quarter. State Street Corp now owns 9,593,020 shares of the company’s stock worth $321,555,000 after buying an additional 866,198 shares during the period. Vanguard Group Inc. increased its stake in shares of Eaton Vance Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 9,089,659 shares of the company’s stock worth $321,229,000 after buying an additional 270,956 shares during the period. BlackRock Fund Advisors increased its stake in shares of Eaton Vance Corp. by 1.9% in the second quarter. BlackRock Fund Advisors now owns 4,242,317 shares of the company’s stock worth $149,923,000 after buying an additional 80,703 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Eaton Vance Corp. by 3.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,703,742 shares of the company’s stock worth $130,890,000 after buying an additional 136,425 shares during the period. Finally, FMR LLC increased its stake in shares of Eaton Vance Corp. by 3.6% in the second quarter. FMR LLC now owns 1,645,660 shares of the company’s stock worth $58,158,000 after buying an additional 57,700 shares during the period. 70.89% of the stock is owned by institutional investors and hedge funds.

Eaton Vance Corp. Company Profile

Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels.

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