Janus Henderson Group PLC Trims Stake in Eaton Vance Corp (EV)
Janus Henderson Group PLC lowered its holdings in shares of Eaton Vance Corp (NYSE:EV) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,518,305 shares of the asset manager’s stock after selling 39,288 shares during the quarter. Janus Henderson Group PLC owned approximately 1.31% of Eaton Vance worth $74,959,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EV. Benjamin F. Edwards & Company Inc. grew its stake in shares of Eaton Vance by 437.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock valued at $100,000 after acquiring an additional 1,653 shares during the period. WFG Advisors LP grew its stake in shares of Eaton Vance by 0.6% during the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 14 shares during the period. Pacad Investment Ltd. bought a new position in shares of Eaton Vance during the 2nd quarter valued at approximately $166,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Eaton Vance by 44.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock valued at $199,000 after acquiring an additional 1,296 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Eaton Vance during the 3rd quarter valued at approximately $200,000. 69.14% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on EV. Zacks Investment Research downgraded Eaton Vance from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. J P Morgan Chase & Co upgraded Eaton Vance from an “underweight” rating to a “neutral” rating and set a $48.00 price target for the company in a research note on Thursday, August 24th. BidaskClub downgraded Eaton Vance from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $53.00 price target on shares of Eaton Vance in a research note on Friday, November 10th. Finally, Jefferies Group restated a “hold” rating and issued a $46.00 price target on shares of Eaton Vance in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, six have given 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 $52.06.
Eaton Vance Corp (NYSE:EV) opened at $55.98 on Friday. The company has a quick ratio of 5.74, a current ratio of 1.85 and a debt-to-equity ratio of 0.01. Eaton Vance Corp has a 52 week low of $41.08 and a 52 week high of $57.03. The firm has a market capitalization of $6,556.87, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The business had revenue of $405.70 million for the quarter, compared to analyst estimates of $407.75 million. Eaton Vance had a return on equity of 33.45% and a net margin of 18.45%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 earnings per share. equities analysts anticipate that Eaton Vance Corp will post 2.98 earnings per share for the current fiscal year.
In other news, insider Frederick S. Marius sold 7,574 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $47.99, for a total transaction of $363,476.26. Following the completion of the transaction, the insider now directly owns 26,128 shares of the company’s stock, valued at approximately $1,253,882.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ann E. Berman sold 6,865 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $48.88, for a total value of $335,561.20. Following the transaction, the director now directly owns 6,865 shares of the company’s stock, valued at $335,561.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 587,122 shares of company stock valued at $29,384,733.
Eaton Vance 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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