Quantbot Technologies LP Invests $203,000 in Eaton Vance Corporation (EV)
Quantbot Technologies LP acquired a new stake in Eaton Vance Corporation (NYSE:EV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,290 shares of the asset manager’s stock, valued at approximately $203,000.
Several other institutional investors and hedge funds also recently made changes to their positions in EV. BlackRock Inc. boosted its stake in shares of Eaton Vance Corporation by 3,407.1% in the 1st quarter. BlackRock Inc. now owns 10,878,915 shares of the asset manager’s stock valued at $489,118,000 after buying an additional 10,568,715 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Eaton Vance Corporation by 34.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,308,194 shares of the asset manager’s stock valued at $156,544,000 after buying an additional 844,813 shares during the period. Vanguard Group Inc. boosted its stake in shares of Eaton Vance Corporation by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 10,398,957 shares of the asset manager’s stock valued at $467,537,000 after buying an additional 600,222 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Eaton Vance Corporation by 177.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 347,511 shares of the asset manager’s stock valued at $16,444,000 after buying an additional 222,268 shares during the period. Finally, JLB & Associates Inc. purchased a new position in shares of Eaton Vance Corporation in the 2nd quarter valued at about $7,369,000. Institutional investors and hedge funds own 68.91% of the company’s stock.
In other Eaton Vance Corporation news, insider Jeffrey P. Beale sold 39,343 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $48.30, for a total transaction of $1,900,266.90. Following the transaction, the insider now owns 343,509 shares of the company’s stock, valued at approximately $16,591,484.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas E. Faust, Jr. sold 57,832 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $49.67, for a total value of $2,872,515.44. The disclosure for this sale can be found here. Insiders sold 357,246 shares of company stock valued at $17,439,425 in the last three months.
Shares of Eaton Vance Corporation (NYSE EV) opened at 49.91 on Friday. The company’s 50-day moving average price is $47.59 and its 200 day moving average price is $46.61. Eaton Vance Corporation has a 1-year low of $34.44 and a 1-year high of $50.40. The stock has a market cap of $5.59 billion, a PE ratio of 21.70 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last issued its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $393.70 million during the quarter, compared to analysts’ expectations of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. Equities analysts forecast that Eaton Vance Corporation will post $2.46 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Credit Suisse Group AG lifted their price objective on Eaton Vance Corporation from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. Zacks Investment Research cut Eaton Vance Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $45.00 price objective on shares of Eaton Vance Corporation in a research note on Wednesday, June 28th. BidaskClub cut Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co upgraded Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price objective for the company in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Eaton Vance Corporation presently has a consensus rating of “Hold” and an average price target of $49.58.
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Eaton Vance Corporation 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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