Bright Rock Capital Management LLC Has $1,514,000 Position in Eaton Vance Corporation (NYSE:EV)
Bright Rock Capital Management LLC maintained its stake in Eaton Vance Corporation (NYSE:EV) during the second quarter, Holdings Channel reports. The firm owned 32,000 shares of the asset manager’s stock at the end of the second quarter. Bright Rock Capital Management LLC’s holdings in Eaton Vance Corporation were worth $1,514,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in EV. TrimTabs Asset Management LLC raised its stake in Eaton Vance Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager’s stock worth $122,000 after buying an additional 1,272 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Eaton Vance Corporation by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager’s stock worth $127,000 after buying an additional 148 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Eaton Vance Corporation by 20.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager’s stock worth $130,000 after buying an additional 501 shares during the last quarter. CENTRAL TRUST Co raised its stake in Eaton Vance Corporation 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 during the last quarter. Finally, Nordea Investment Management AB raised its stake in Eaton Vance Corporation by 131.9% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock worth $150,000 after buying an additional 1,900 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.
Shares of Eaton Vance Corporation (EV) opened at 48.28 on Thursday. The company has a 50-day moving average price of $48.16 and a 200 day moving average price of $45.78. Eaton Vance Corporation has a one year low of $34.44 and a one year high of $50.10. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 21.17 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last announced its quarterly earnings results on Wednesday, May 24th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $374.60 million for the quarter, compared to the consensus estimate of $373.28 million. Eaton Vance Corporation had a return on equity of 36.63% and a net margin of 18.39%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. Equities research analysts expect that Eaton Vance Corporation will post $2.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, July 27th. Eaton Vance Corporation’s dividend payout ratio (DPR) is presently 49.34%.
EV has been the subject of a number of analyst reports. Zacks Investment Research raised Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Thursday, June 8th. Citigroup Inc. raised Eaton Vance Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $54.50 in a research report on Monday, June 5th. Jefferies Group LLC reissued a “hold” rating and issued a $45.00 price target on shares of Eaton Vance Corporation in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 target price on shares of Eaton Vance Corporation in a research report on Tuesday, May 23rd. Finally, Bank of America Corporation raised their target price on Eaton Vance Corporation from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $48.07.
In related news, Director Dorothy E. Puhy sold 2,563 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $48.46, for a total transaction of $124,202.98. Following the completion of the sale, the director now owns 14,473 shares in the company, valued at $701,361.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Witkos sold 40,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $48.08, for a total value of $1,923,200.00. Following the sale, the chief executive officer now owns 243,688 shares of the company’s stock, valued at approximately $11,716,519.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,943 shares of company stock valued at $6,149,649.
Eaton Vance Corporation Company Profile
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.
Want to see what other hedge funds are holding EV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Vance Corporation (NYSE:EV).
Receive News & Ratings for Eaton Vance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Vance Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.