Matthew J. Witkos Sells 24,152 Shares of Eaton Vance Corporation (EV) Stock
Eaton Vance Corporation (NYSE:EV) CEO Matthew J. Witkos sold 24,152 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $47.65, for a total value of $1,150,842.80. Following the sale, the chief executive officer now owns 231,477 shares in the company, valued at approximately $11,029,879.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Eaton Vance Corporation (NYSE EV) traded down 1.34% during mid-day trading on Tuesday, hitting $47.27. The company had a trading volume of 697,653 shares. Eaton Vance Corporation has a 52-week low of $34.44 and a 52-week high of $49.03. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 20.72 and a beta of 1.84. The stock’s 50-day moving average is $47.03 and its 200-day moving average is $44.62.
Eaton Vance Corporation (NYSE:EV) last announced its earnings results on Wednesday, May 24th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Eaton Vance Corporation had a return on equity of 36.63% and a net margin of 18.39%. The business had revenue of $374.60 million for the quarter, compared to analyst estimates of $373.28 million. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts forecast that Eaton Vance Corporation will post $2.54 earnings per share for the current year.
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Several brokerages have weighed in on EV. Jefferies Group LLC restated a “hold” rating and set a $45.00 price target on shares of Eaton Vance Corporation in a report on Wednesday, June 28th. Zacks Investment Research raised Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Thursday, June 8th. J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $47.00 price objective (up from $40.00) on shares of Eaton Vance Corporation in a research report on Tuesday, June 6th. Citigroup Inc. raised Eaton Vance Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $54.50 in a research report on Monday, June 5th. Finally, 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 research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $48.07.
A number of hedge funds have recently made changes to their positions in the stock. TrimTabs Asset Management LLC raised its stake in shares of Eaton Vance Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager’s stock valued at $122,000 after buying an additional 1,272 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Eaton Vance Corporation by 20.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager’s stock valued at $130,000 after buying an additional 501 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Eaton Vance Corporation by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager’s stock valued at $127,000 after buying an additional 148 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Eaton Vance Corporation by 6,356.9% in the first quarter. CENTRAL TRUST Co now owns 3,293 shares of the asset manager’s stock valued at $148,000 after buying an additional 3,242 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Eaton Vance Corporation by 131.9% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock valued at $150,000 after buying an additional 1,900 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.
Eaton Vance Corporation Company 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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