BlueMountain Capital Management LLC raised its position in shares of Eaton Vance Corp (NYSE:EV) by 1,313.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 21,298 shares of the asset manager’s stock after purchasing an additional 19,791 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Eaton Vance were worth $1,112,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new stake in Eaton Vance during the 1st quarter valued at approximately $103,000. Clarus Wealth Advisors acquired a new stake in Eaton Vance during the 2nd quarter valued at approximately $131,000. Synovus Financial Corp acquired a new stake in shares of Eaton Vance during the 1st quarter worth approximately $182,000. Sit Investment Associates Inc. grew its position in shares of Eaton Vance by 44.3% during the 2nd quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock worth $183,000 after buying an additional 1,075 shares during the period. Finally, TLP Group LLC grew its position in shares of Eaton Vance by 6,198.3% during the 1st quarter. TLP Group LLC now owns 3,653 shares of the asset manager’s stock worth $203,000 after buying an additional 3,595 shares during the period. 68.05% of the stock is owned by institutional investors and hedge funds.
Shares of EV opened at $52.32 on Friday. Eaton Vance Corp has a 12-month low of $46.73 and a 12-month high of $60.95. The company has a current ratio of 8.35, a quick ratio of 8.05 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $6.15 billion, a P/E ratio of 21.05, a PEG ratio of 0.87 and a beta of 1.62.
Eaton Vance (NYSE:EV) last issued its earnings results on Wednesday, August 29th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The company had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $430.11 million. During the same period last year, the business earned $0.62 EPS. Eaton Vance’s quarterly revenue was up 9.4% compared to the same quarter last year. sell-side analysts forecast that Eaton Vance Corp will post 3.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Tuesday, July 31st were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, July 30th. Eaton Vance’s dividend payout ratio is currently 50.00%.
Several analysts have recently commented on EV shares. Zacks Investment Research downgraded shares of Eaton Vance from a “hold” rating to a “strong sell” rating in a research report on Friday, May 25th. Citigroup reduced their price objective on shares of Eaton Vance from $65.50 to $62.00 and set a “buy” rating for the company in a research report on Thursday, May 31st. Credit Suisse Group raised their price objective on shares of Eaton Vance from $57.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 23rd. Finally, ValuEngine downgraded shares of Eaton Vance from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Eaton Vance currently has a consensus rating of “Hold” and an average target price of $58.44.
About Eaton Vance
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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