Eaton Vance Corporation (EV) Position Lowered by Great Lakes Advisors LLC
Great Lakes Advisors LLC lowered its position in shares of Eaton Vance Corporation (NYSE:EV) by 1.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 31,567 shares of the asset manager’s stock after selling 432 shares during the period. Great Lakes Advisors LLC’s holdings in Eaton Vance Corporation were worth $1,494,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in EV. Stratos Wealth Partners LTD. boosted its stake in Eaton Vance Corporation by 1.0% in the second quarter. Stratos Wealth Partners LTD. now owns 5,081 shares of the asset manager’s stock worth $240,000 after buying an additional 49 shares during the period. Bank of The West boosted its stake in Eaton Vance Corporation by 0.6% in the second quarter. Bank of The West now owns 7,804 shares of the asset manager’s stock worth $369,000 after buying an additional 50 shares during the period. Envestnet Asset Management Inc. boosted its stake in Eaton Vance Corporation by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 25,708 shares of the asset manager’s stock worth $1,157,000 after buying an additional 114 shares during the period. Mn Services Vermogensbeheer B.V. boosted 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 period. Finally, Creative Planning boosted its stake in Eaton Vance Corporation by 3.3% in the second quarter. Creative Planning now owns 5,098 shares of the asset manager’s stock worth $241,000 after buying an additional 163 shares during the period. 69.60% of the stock is currently owned by institutional investors.
Shares of Eaton Vance Corporation (NYSE:EV) opened at 46.74 on Wednesday. The company’s 50-day moving average price is $48.07 and its 200 day moving average price is $46.15. Eaton Vance Corporation has a one year low of $34.44 and a one year high of $50.10. The company has a market cap of $5.20 billion, a PE ratio of 20.32 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last posted its earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.05. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The business had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. Equities analysts forecast that Eaton Vance Corporation will post $2.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, July 27th. Eaton Vance Corporation’s payout ratio is 48.70%.
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A number of research firms have recently weighed in on EV. Jefferies Group LLC reaffirmed a “hold” rating and set a $46.00 price target on shares of Eaton Vance Corporation in a report on Friday, August 18th. Zacks Investment Research cut Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub cut Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $47.00 price target (up previously from $40.00) on shares of Eaton Vance Corporation in a report on Tuesday, June 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 price target on shares of Eaton Vance Corporation in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $50.21.
In other Eaton Vance Corporation news, insider Jeffrey P. Beale sold 39,343 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $48.30, for a total transaction of $1,900,266.90. Following the sale, the insider now directly owns 343,509 shares of the company’s stock, valued at approximately $16,591,484.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Winthrop H. Smith, Jr. sold 21,885 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $48.03, for a total transaction of $1,051,136.55. Following the sale, the director now directly owns 15,420 shares in the company, valued at $740,622.60. The disclosure for this sale can be found here. Insiders have sold a total of 127,943 shares of company stock worth $6,149,649 over the last three months.
About Eaton Vance Corporation
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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