Eaton Vance Corp. (EV) Raises Dividend to $0.28 Per Share
Eaton Vance Corp. (NYSE:EV) announced a quarterly dividend on Thursday, October 13th. Shareholders of record on Monday, October 31st will be paid a dividend of 0.28 per share on Tuesday, November 15th. This represents a $1.12 annualized dividend and a yield of 2.97%. This is an increase from Eaton Vance Corp.’s previous quarterly dividend of $0.27.
Shares of Eaton Vance Corp. (NYSE:EV) traded down 0.74% during mid-day trading on Thursday, reaching $37.38. 515,930 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $39.01 and a 200-day moving average price of $36.67. Eaton Vance Corp. has a 12 month low of $26.44 and a 12 month high of $40.36. The stock has a market cap of $4.07 billion, a PE ratio of 17.95 and a beta of 1.76.
Eaton Vance Corp. (NYSE:EV) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Eaton Vance Corp. had a net margin of 17.83% and a return on equity of 39.06%. The company earned $341.20 million during the quarter. During the same period last year, the business earned $0.57 EPS. The business’s revenue was down 4.0% on a year-over-year basis. On average, analysts predict that Eaton Vance Corp. will post $2.13 earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Eaton Vance Corp. from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, August 19th. Jefferies Group restated a “hold” rating on shares of Eaton Vance Corp. in a research note on Monday, August 1st. Zacks Investment Research upgraded shares of Eaton Vance Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, July 19th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $37.00 target price on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.54.
In related news, Director Dorothy E. Puhy sold 6,197 shares of Eaton Vance Corp. stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $38.75, for a total transaction of $240,133.75. Following the sale, the director now directly owns 15,787 shares of the company’s stock, valued at approximately $611,746.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Beale sold 53,153 shares of Eaton Vance Corp. stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $39.58, for a total transaction of $2,103,795.74. Following the sale, the insider now directly owns 327,591 shares in the company, valued at $12,966,051.78. The disclosure for this sale can be found here.
Large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in shares of Eaton Vance Corp. during the second quarter valued at about $1,321,000. GAM Holding AG raised its stake in shares of Eaton Vance Corp. by 36.3% in the second quarter. GAM Holding AG now owns 9,817 shares of the company’s stock valued at $347,000 after buying an additional 2,612 shares during the period. HighTower Advisors LLC raised its stake in shares of Eaton Vance Corp. by 573.1% in the second quarter. HighTower Advisors LLC now owns 130,443 shares of the company’s stock valued at $4,608,000 after buying an additional 111,063 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Eaton Vance Corp. during the second quarter valued at about $1,194,000. Finally, Tredje AP fonden raised its stake in shares of Eaton Vance Corp. by 467.5% in the second quarter. Tredje AP fonden now owns 4,540 shares of the company’s stock valued at $160,000 after buying an additional 3,740 shares during the period. 70.88% of the stock is currently owned by institutional investors.
About Eaton Vance Corp.
Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels.
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