Eaton Vance Corporation (NYSE:EV) – Investment analysts at William Blair decreased their FY2017 EPS estimates for Eaton Vance Corporation in a research note issued to investors on Wednesday. William Blair analyst C. Shutler now forecasts that the asset manager will earn $2.43 per share for the year, down from their prior estimate of $2.48.
Several other research analysts also recently weighed in on EV. Jefferies Group LLC upped their price target on Eaton Vance Corporation from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, May 22nd. Zacks Investment Research raised Eaton Vance Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 price objective on shares of Eaton Vance Corporation in a report on Tuesday, May 23rd. Bank of America Corporation upped their price objective on Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, May 25th. Finally, Citigroup Inc. upped their price objective on Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.21.
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Eaton Vance Corporation (EV) opened at 46.74 on Monday. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $50.10. The stock has a 50 day moving average of $48.07 and a 200 day moving average of $46.15. The firm has a market capitalization of $5.20 billion, a PE ratio of 20.32 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last issued its earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by $0.05. The firm had revenue of $393.70 million during the quarter, compared to analyst estimates of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. Eaton Vance Corporation’s quarterly revenue 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.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, July 27th. This represents a $1.12 annualized dividend and a yield of 2.40%. Eaton Vance Corporation’s payout ratio is presently 48.70%.
In other Eaton Vance Corporation news, Director Winthrop H. Smith, Jr. sold 21,885 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $48.03, for a total value of $1,051,136.55. Following the sale, the director now owns 15,420 shares in the company, valued at $740,622.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Witkos sold 40,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $48.08, for a total value of $1,923,200.00. Following the completion of the sale, the chief executive officer now owns 243,688 shares in the company, valued at approximately $11,716,519.04. 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 in the last 90 days.
A number of hedge funds have recently added to or reduced their stakes in EV. BlackRock Inc. raised its stake in Eaton Vance Corporation by 3,407.1% in the first quarter. BlackRock Inc. now owns 10,878,915 shares of the asset manager’s stock worth $489,118,000 after buying an additional 10,568,715 shares during the last quarter. Janus Henderson Group PLC increased its position in Eaton Vance Corporation by 13,411.4% in the second quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock worth $73,705,000 after buying an additional 1,546,065 shares during the last quarter. Bank of New York Mellon Corp increased its position in Eaton Vance Corporation by 34.3% in the second quarter. Bank of New York Mellon Corp now owns 3,308,194 shares of the asset manager’s stock worth $156,544,000 after buying an additional 844,813 shares during the last quarter. Junto Capital Management LP purchased a new position in Eaton Vance Corporation during the second quarter worth about $33,813,000. Finally, Vanguard Group Inc. increased its position in Eaton Vance Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 10,398,957 shares of the asset manager’s stock worth $467,537,000 after buying an additional 600,222 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.
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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