JLB & Associates Inc. boosted its holdings in shares of Eaton Vance Corp (NYSE:EV) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 227,863 shares of the asset manager’s stock after buying an additional 11,951 shares during the period. Eaton Vance makes up about 1.6% of JLB & Associates Inc.’s holdings, making the stock its 28th biggest position. JLB & Associates Inc. owned approximately 0.20% of Eaton Vance worth $8,692,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV acquired a new position in Eaton Vance in the 2nd quarter valued at approximately $27,000. Advisors Asset Management Inc. acquired a new position in shares of Eaton Vance in the second quarter worth $47,000. Nachman Norwood & Parrott Inc purchased a new stake in shares of Eaton Vance during the third quarter worth $50,000. Ovata Capital Management Ltd acquired a new stake in Eaton Vance during the second quarter valued at $57,000. Finally, Private Advisor Group LLC purchased a new position in Eaton Vance in the second quarter valued at about $110,000. 68.35% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on EV. Citigroup raised their price target on Eaton Vance from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. ValuEngine upgraded shares of Eaton Vance from a “sell” rating to a “hold” rating in a research note on Thursday, October 8th. Credit Suisse Group boosted their target price on shares of Eaton Vance from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. upgraded shares of Eaton Vance from a “neutral” rating to an “overweight” rating and raised their price target for the company from $44.00 to $50.00 in a report on Thursday, August 27th. Finally, TheStreet lowered shares of Eaton Vance from a “b-” rating to a “c+” rating in a research note on Monday, September 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $44.75.
Shares of Eaton Vance stock traded up $0.31 on Friday, reaching $61.94. The stock had a trading volume of 4,374,158 shares, compared to its average volume of 908,143. The business’s 50-day moving average price is $42.58 and its two-hundred day moving average price is $38.21. The stock has a market cap of $7.07 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 3.27 and a beta of 1.46. Eaton Vance Corp has a fifty-two week low of $23.59 and a fifty-two week high of $62.20.
Eaton Vance (NYSE:EV) last announced its earnings results on Wednesday, August 26th. The asset manager reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. Eaton Vance had a net margin of 16.56% and a return on equity of 31.17%. The firm had revenue of $420.80 million for the quarter, compared to the consensus estimate of $411.05 million. During the same quarter last year, the firm posted $0.90 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Eaton Vance Corp will post 3.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.375 per share. The ex-dividend date is Thursday, October 29th. This represents a $1.50 annualized dividend and a dividend yield of 2.42%. Eaton Vance’s dividend payout ratio is presently 43.48%.
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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