Eaton Vance Corp (NYSE:EV) Director Brian D. Langstraat sold 13,000 shares of the firm’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $47.50, for a total transaction of $617,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Eaton Vance stock traded down $0.40 during trading hours on Friday, hitting $46.26. 44,396 shares of the company traded hands, compared to its average volume of 605,463. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 0.88 and a beta of 1.63. The company has a current ratio of 8.35, a quick ratio of 8.35 and a debt-to-equity ratio of 1.14. Eaton Vance Corp has a 1-year low of $46.59 and a 1-year high of $60.95.
Eaton Vance (NYSE:EV) last released its earnings results on Wednesday, August 29th. The asset manager reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The firm had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $430.11 million. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. Eaton Vance’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. Research analysts expect that Eaton Vance Corp will post 3.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.03%. This is a boost from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s payout ratio is currently 50.00%.
EV has been the topic of several research analyst reports. Zacks Investment Research raised shares of Eaton Vance from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Citigroup lowered their target price on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating on the stock in a research note on Thursday, August 30th. Finally, Deutsche Bank lowered their target price on shares of Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $58.31.
Institutional investors and hedge funds have recently made changes to their positions in the company. Zebra Capital Management LLC grew its stake in shares of Eaton Vance by 107.1% in the 2nd quarter. Zebra Capital Management LLC now owns 19,920 shares of the asset manager’s stock worth $1,040,000 after purchasing an additional 10,303 shares during the last quarter. Korea Investment CORP acquired a new position in shares of Eaton Vance in the 2nd quarter worth approximately $193,000. Schwab Charles Investment Management Inc. grew its stake in shares of Eaton Vance by 5.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 910,937 shares of the asset manager’s stock worth $47,542,000 after purchasing an additional 43,271 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Eaton Vance by 11.5% in the 1st quarter. Legal & General Group Plc now owns 260,541 shares of the asset manager’s stock worth $14,504,000 after purchasing an additional 26,948 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Eaton Vance by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 82,758 shares of the asset manager’s stock worth $4,319,000 after purchasing an additional 1,554 shares during the last quarter. 68.40% of the stock is currently owned by institutional investors.
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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