Taylor Hoffman Wealth Management lifted its position in Eaton Vance Corp (NYSE:EV) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,382 shares of the asset manager’s stock after buying an additional 2,807 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Eaton Vance were worth $1,230,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new position in shares of Eaton Vance during the 3rd quarter valued at about $41,000. Advisory Services Network LLC grew its stake in Eaton Vance by 59.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,092 shares of the asset manager’s stock worth $47,000 after purchasing an additional 407 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in Eaton Vance by 155.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,411 shares of the asset manager’s stock worth $60,000 after purchasing an additional 859 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in Eaton Vance during the 2nd quarter worth about $77,000. Finally, HM Payson & Co. purchased a new stake in Eaton Vance during the 2nd quarter worth about $89,000. 70.89% of the stock is currently owned by hedge funds and other institutional investors.
NYSE EV traded up $0.09 during trading hours on Friday, hitting $47.96. The company had a trading volume of 337,218 shares, compared to its average volume of 835,008. Eaton Vance Corp has a fifty-two week low of $32.28 and a fifty-two week high of $48.58. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 2.46 and a beta of 1.56. The company has a debt-to-equity ratio of 1.98, a current ratio of 11.85 and a quick ratio of 11.85. The firm’s 50 day moving average is $44.75 and its 200 day moving average is $42.60.
Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, August 27th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. The firm had revenue of $431.24 million for the quarter, compared to analysts’ expectations of $433.98 million. Eaton Vance had a net margin of 23.51% and a return on equity of 35.45%. Eaton Vance’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $0.82 earnings per share. On average, equities analysts anticipate that Eaton Vance Corp will post 3.4 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.50 dividend on an annualized basis and a yield of 3.13%. This is a boost from Eaton Vance’s previous quarterly dividend of $0.35. Eaton Vance’s dividend payout ratio (DPR) is currently 46.73%.
Several research firms have issued reports on EV. JPMorgan Chase & Co. dropped their target price on Eaton Vance from $44.00 to $42.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 28th. Zacks Investment Research upgraded Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Friday, August 30th. Credit Suisse Group upped their price target on Eaton Vance from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Finally, ValuEngine upgraded Eaton Vance from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $43.57.
In other news, Director Brian D. Langstraat sold 3,743 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $45.03, for a total transaction of $168,547.29. Also, insider Daniel C. Cataldo sold 3,773 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $46.43, for a total transaction of $175,180.39. In the last quarter, insiders sold 147,964 shares of company stock valued at $6,784,832.
Eaton Vance Company Profile
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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