Eaton Vance Corporation (NYSE:EV) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other research firms have also issued reports on EV. Zacks Investment Research raised Eaton Vance Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Deutsche Bank AG assumed coverage on Eaton Vance Corporation in a research note on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Eaton Vance Corporation in a research note on Friday, November 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Eaton Vance Corporation in a research note on Thursday, October 26th. Finally, Bank of America Corporation raised their price objective on Eaton Vance Corporation from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Eaton Vance Corporation presently has an average rating of “Hold” and a consensus target price of $52.06.

Shares of Eaton Vance Corporation (NYSE:EV) traded up $0.80 during trading on Wednesday, reaching $52.98. The company had a trading volume of 652,091 shares, compared to its average volume of 613,668. Eaton Vance Corporation has a 52 week low of $39.59 and a 52 week high of $53.10. The company has a market capitalization of $6,180.00, a price-to-earnings ratio of 22.34, a PEG ratio of 1.00 and a beta of 1.85. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.74 and a current ratio of 5.74.

Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings data on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). The company had revenue of $405.70 million during the quarter, compared to the consensus estimate of $407.75 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. Eaton Vance Corporation’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. sell-side analysts predict that Eaton Vance Corporation will post 2.46 earnings per share for the current year.

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In related news, CEO Thomas E. Faust, Jr. sold 73,982 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $48.20, for a total transaction of $3,565,932.40. Following the completion of the sale, the chief executive officer now directly owns 2,697,576 shares of the company’s stock, valued at approximately $130,023,163.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann E. Berman sold 6,865 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $48.88, for a total value of $335,561.20. Following the sale, the director now directly owns 6,865 shares of the company’s stock, valued at $335,561.20. The disclosure for this sale can be found here. Insiders have sold a total of 596,037 shares of company stock valued at $29,808,641 over the last three months.

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in Eaton Vance Corporation by 13,411.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock worth $73,705,000 after purchasing an additional 1,546,065 shares during the period. Bank of New York Mellon Corp increased its holdings in Eaton Vance Corporation by 33.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock worth $218,311,000 after purchasing an additional 1,113,748 shares during the period. Junto Capital Management LP purchased a new position in Eaton Vance Corporation during the 2nd quarter worth $33,813,000. Old Mutual Global Investors UK Ltd. increased its holdings in Eaton Vance Corporation by 177.5% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 347,511 shares of the asset manager’s stock worth $16,444,000 after purchasing an additional 222,268 shares during the period. Finally, Balyasny Asset Management LLC increased its holdings in Eaton Vance Corporation by 579.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 239,882 shares of the asset manager’s stock worth $11,351,000 after purchasing an additional 204,575 shares during the period. 69.49% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Eaton Vance Corporation (NYSE:EV)

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