Eaton Vance Corporation (EV) Insider Sells $1,239,830.40 in Stock
Eaton Vance Corporation (NYSE:EV) insider Jeffrey P. Beale sold 24,140 shares of Eaton Vance Corporation stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $51.36, for a total transaction of $1,239,830.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Eaton Vance Corporation (NYSE EV) traded up 0.62% during trading on Friday, hitting $51.83. 176,530 shares of the stock traded hands. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $52.06. The firm has a 50-day moving average price of $48.72 and a 200 day moving average price of $47.04. The firm has a market cap of $5.81 billion, a PE ratio of 22.53 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last posted its earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.05). Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The firm had revenue of $393.70 million for the quarter, compared to analysts’ expectations of $398.74 million. During the same period in the previous year, the company earned $0.56 EPS. The company’s revenue was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Eaton Vance Corporation will post $2.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a dividend of $0.31 per share. This is a boost from Eaton Vance Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, October 30th. This represents a $1.24 dividend on an annualized basis and a yield of 2.41%. Eaton Vance Corporation’s dividend payout ratio is presently 48.70%.
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A number of large investors have recently bought and sold shares of the stock. WFG Advisors LP increased its stake in Eaton Vance Corporation 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 purchasing an additional 14 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Eaton Vance Corporation during the 2nd quarter valued at approximately $166,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Eaton Vance Corporation by 53.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock valued at $180,000 after purchasing an additional 1,400 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Eaton Vance Corporation 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 purchasing an additional 1,296 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Eaton Vance Corporation during the 2nd quarter valued at approximately $203,000. 68.90% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Deutsche Bank AG assumed coverage on shares of Eaton Vance Corporation in a report on Tuesday. They set a “buy” rating and a $57.00 target price for the company. J P Morgan Chase & Co upgraded shares of Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 target price for the company in a report on Thursday, August 24th. BidaskClub lowered shares of Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $46.00 target price on shares of Eaton Vance Corporation in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Eaton Vance Corporation presently has an average rating of “Hold” and a consensus price target of $50.64.
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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