Ellington Management Group LLC purchased a new position in shares of Eaton Vance Corp (NYSE:EV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,400 shares of the asset manager’s stock, valued at approximately $1,207,000.
Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in Eaton Vance 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 acquiring an additional 1,113,748 shares during the period. Crestline Management LP acquired a new stake in Eaton Vance during the 3rd quarter worth approximately $1,820,000. Russell Investments Group Ltd. lifted its position in Eaton Vance by 25.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 37,283 shares of the asset manager’s stock worth $1,841,000 after acquiring an additional 7,595 shares during the period. Cambria Investment Management L.P. lifted its position in Eaton Vance by 183.3% during the 3rd quarter. Cambria Investment Management L.P. now owns 121,963 shares of the asset manager’s stock worth $6,021,000 after acquiring an additional 78,913 shares during the period. Finally, First Trust Advisors LP lifted its position in Eaton Vance by 11.0% during the 3rd quarter. First Trust Advisors LP now owns 128,516 shares of the asset manager’s stock worth $6,345,000 after acquiring an additional 12,764 shares during the period. Hedge funds and other institutional investors own 70.63% of the company’s stock.
Shares of Eaton Vance Corp (NYSE EV) opened at $57.56 on Monday. The company has a quick ratio of 5.44, a current ratio of 9.43 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $6,911.27, a P/E ratio of 21.16, a PEG ratio of 0.67 and a beta of 1.79. Eaton Vance Corp has a 1-year low of $42.20 and a 1-year high of $60.95.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.15%. Eaton Vance’s dividend payout ratio is currently 49.21%.
EV has been the subject of a number of recent research reports. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. JPMorgan Chase & Co. set a $58.00 price objective on Eaton Vance and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, January 23rd. Finally, Deutsche Bank decreased their price objective on Eaton Vance from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Eaton Vance has an average rating of “Hold” and an average price target of $55.19.
In other news, Director Dorothy E. Puhy sold 9,490 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $60.49, for a total value of $574,050.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Witkos sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $60.35, for a total value of $1,508,750.00. The disclosure for this sale can be found here.
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Eaton Vance 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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