Pictet Asset Management Ltd. reduced its holdings in shares of Eaton Vance Corp (NYSE:EV) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,391 shares of the asset manager’s stock after selling 1,600 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Eaton Vance were worth $1,749,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Eaton Vance by 7.4% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 408,893 shares of the asset manager’s stock worth $16,482,000 after buying an additional 28,338 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Eaton Vance by 15.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 20,252 shares of the asset manager’s stock worth $713,000 after acquiring an additional 2,710 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Eaton Vance by 8.4% during the fourth quarter. New York State Common Retirement Fund now owns 519,850 shares of the asset manager’s stock worth $18,288,000 after acquiring an additional 40,300 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Eaton Vance by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,140,735 shares of the asset manager’s stock worth $40,130,000 after buying an additional 100,760 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its stake in shares of Eaton Vance by 6.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 48,644 shares of the asset manager’s stock worth $1,712,000 after buying an additional 3,062 shares during the period. 70.24% of the stock is owned by hedge funds and other institutional investors.
Shares of EV traded up $0.07 during midday trading on Wednesday, reaching $41.23. 3,178 shares of the stock were exchanged, compared to its average volume of 953,721. Eaton Vance Corp has a 52 week low of $32.28 and a 52 week high of $56.59. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 2.28 and a beta of 1.56.
Eaton Vance (NYSE:EV) last issued its quarterly earnings data on Tuesday, May 21st. The asset manager reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.13. The company had revenue of $411.86 million for the quarter, compared to the consensus estimate of $411.42 million. Eaton Vance had a return on equity of 35.53% and a net margin of 23.50%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. On average, equities research analysts predict that Eaton Vance Corp will post 3.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Monday, April 29th. Eaton Vance’s payout ratio is 43.61%.
A number of analysts have recently commented on EV shares. Bank of America cut shares of Eaton Vance from a “buy” rating to an “underperform” rating in a report on Monday, May 20th. ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Zacks Investment Research lowered Eaton Vance from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $44.00 price target on shares of Eaton Vance in a research report on Wednesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Eaton Vance currently has an average rating of “Hold” and an average price target of $42.00.
In other news, Director Brian D. Langstraat sold 7,740 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $41.76, for a total value of $323,222.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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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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