Eaton Vance Corporation (EV) Shares Bought by Alliancebernstein L.P.
Alliancebernstein L.P. lifted its holdings in shares of Eaton Vance Corporation (NYSE:EV) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,033 shares of the asset manager’s stock after buying an additional 803 shares during the quarter. Alliancebernstein L.P. owned approximately 0.06% of Eaton Vance Corporation worth $3,409,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in EV. Nordea Investment Management AB raised its stake in shares of Eaton Vance Corporation by 131.9% during the 1st 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 period. Pacad Investment Ltd. acquired a new position in shares of Eaton Vance Corporation during the 2nd quarter worth approximately $166,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Eaton Vance Corporation by 53.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock worth $180,000 after buying an additional 1,400 shares during the period. Stephens Inc. AR acquired a new position in shares of Eaton Vance Corporation during the 1st quarter worth approximately $208,000. Finally, Connable Office Inc. acquired a new position in shares of Eaton Vance Corporation during the 2nd quarter worth approximately $208,000. 68.91% of the stock is owned by institutional investors and hedge funds.
Eaton Vance Corporation (NYSE EV) opened at 50.05 on Friday. The company has a 50-day moving average price of $47.69 and a 200 day moving average price of $46.64. Eaton Vance Corporation has a 1-year low of $34.44 and a 1-year high of $50.40. The firm has a market capitalization of $5.61 billion, a P/E ratio of 21.76 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 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.05). The firm had revenue of $393.70 million for the quarter, compared to analysts’ expectations of $398.74 million. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Analysts expect that Eaton Vance Corporation will post $2.46 earnings per share for the current fiscal year.
In other Eaton Vance Corporation news, CEO Thomas E. Faust, Jr. sold 57,832 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $49.67, for a total transaction of $2,872,515.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Laurie G. Hylton sold 17,003 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $49.60, for a total value of $843,348.80. Following the sale, the chief financial officer now owns 207,578 shares in the company, valued at $10,295,868.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 357,246 shares of company stock worth $17,439,425.
Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Eaton Vance Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Credit Suisse Group upped their target price on Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 11th. J P Morgan Chase & Co raised Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 target price for the company in a research note on Thursday, August 24th. BidaskClub downgraded Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $46.00 target price on shares of Eaton Vance Corporation in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $49.58.
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.
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