Eaton Vance Corp (EV) Receives Consensus Rating of “Hold” from Analysts
Eaton Vance Corp (NYSE:EV) has earned an average rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $51.36.
Several research analysts have commented on the company. Zacks Investment Research lowered Eaton Vance from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Bank of America raised their price objective on Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $53.00 price objective on shares of Eaton Vance in a research report on Friday, November 10th. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Jefferies Group reissued a “hold” rating and issued a $46.00 price objective on shares of Eaton Vance in a research report on Thursday, October 26th.
Eaton Vance (NYSE EV) traded up $0.84 during trading hours on Friday, reaching $59.99. The company’s stock had a trading volume of 443,300 shares, compared to its average volume of 615,888. The company has a quick ratio of 5.44, a current ratio of 5.44 and a debt-to-equity ratio of 0.62. Eaton Vance has a one year low of $41.40 and a one year high of $60.10. The stock has a market capitalization of $7,110.00, a price-to-earnings ratio of 24.79, a PEG ratio of 0.93 and a beta of 1.90.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Tuesday, January 30th. Eaton Vance’s payout ratio is 51.24%.
In other news, CEO Thomas E. Faust, Jr. sold 72,314 shares of Eaton Vance stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $51.05, for a total transaction of $3,691,629.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Payson F. Swaffield sold 71,739 shares of Eaton Vance stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $51.81, for a total value of $3,716,797.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,146 shares of company stock worth $8,952,337.
Large investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. grew its stake in Eaton Vance by 437.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock worth $100,000 after purchasing an additional 1,653 shares in the last quarter. WFG Advisors LP grew its stake in Eaton Vance by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after purchasing an additional 14 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Eaton Vance in the second quarter worth about $166,000. Northwestern Mutual Wealth Management Co. grew its stake in Eaton Vance by 44.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock worth $199,000 after purchasing an additional 1,296 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Eaton Vance in the third quarter worth about $200,000. Institutional investors and hedge funds own 68.73% of the company’s stock.
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About Eaton Vance
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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