ValuEngine downgraded shares of Eaton Vance (NYSE:EV) from a hold rating to a sell rating in a report published on Wednesday morning.

A number of other research firms have also weighed in on EV. Citigroup lowered their price objective on Eaton Vance from $62.00 to $60.50 and set a buy rating on the stock in a research note on Thursday, August 30th. Zacks Investment Research lowered Eaton Vance from a hold rating to a sell rating in a research note on Thursday, August 9th. Finally, Deutsche Bank lowered their price objective on Eaton Vance from $64.00 to $63.00 and set a buy rating on the stock in a research note on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $58.31.

Shares of NYSE:EV opened at $45.83 on Wednesday. The company has a current ratio of 8.35, a quick ratio of 8.35 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $5.37 billion, a PE ratio of 18.48, a PEG ratio of 0.76 and a beta of 1.64. Eaton Vance has a 1 year low of $45.12 and a 1 year high of $60.95.

Eaton Vance (NYSE:EV) last issued its quarterly earnings results on Wednesday, August 29th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. The firm had revenue of $430.60 million for the quarter, compared to analyst estimates of $430.11 million. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Research analysts anticipate that Eaton Vance will post 3.21 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.40 dividend on an annualized basis and a yield of 3.05%. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s payout ratio is 50.00%.

In other Eaton Vance news, Director Brian D. Langstraat sold 13,000 shares of the business’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $47.50, for a total transaction of $617,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

A number of large investors have recently bought and sold shares of EV. BlackRock Inc. raised its position in Eaton Vance by 2.3% in the second quarter. BlackRock Inc. now owns 11,879,833 shares of the asset manager’s stock valued at $620,009,000 after purchasing an additional 270,518 shares during the period. Janus Henderson Group PLC raised its position in Eaton Vance by 11.7% in the second quarter. Janus Henderson Group PLC now owns 2,145,962 shares of the asset manager’s stock valued at $111,998,000 after purchasing an additional 224,463 shares during the period. Wells Fargo & Company MN raised its position in Eaton Vance by 3.9% in the second quarter. Wells Fargo & Company MN now owns 5,254,672 shares of the asset manager’s stock valued at $274,240,000 after purchasing an additional 195,599 shares during the period. Dai Ichi Life Insurance Company Ltd purchased a new stake in Eaton Vance in the second quarter valued at $8,813,000. Finally, WINTON GROUP Ltd raised its position in Eaton Vance by 1,857.6% in the second quarter. WINTON GROUP Ltd now owns 172,251 shares of the asset manager’s stock valued at $8,990,000 after purchasing an additional 163,452 shares during the period. Institutional investors own 68.35% of the company’s stock.

Eaton Vance Company Profile

Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.

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Analyst Recommendations for Eaton Vance (NYSE:EV)

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