Assenagon Asset Management S.A. cut its holdings in Eaton Vance Corp (NYSE:EV) by 88.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,427 shares of the asset manager’s stock after selling 359,465 shares during the period. Assenagon Asset Management S.A.’s holdings in Eaton Vance were worth $2,493,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new position in Eaton Vance during the third quarter valued at about $445,000. Russell Investments Group Ltd. increased its stake in Eaton Vance by 93.6% during the third quarter. Russell Investments Group Ltd. now owns 50,477 shares of the asset manager’s stock valued at $2,653,000 after acquiring an additional 24,405 shares during the period. IFP Advisors Inc increased its stake in Eaton Vance by 51.0% during the third quarter. IFP Advisors Inc now owns 4,509 shares of the asset manager’s stock valued at $237,000 after acquiring an additional 1,523 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Eaton Vance by 9.0% during the third quarter. Steward Partners Investment Advisory LLC now owns 16,615 shares of the asset manager’s stock valued at $873,000 after acquiring an additional 1,367 shares during the period. Finally, American Financial Network Advisory Services LLC increased its stake in Eaton Vance by 5,168.4% during the third quarter. American Financial Network Advisory Services LLC now owns 9,852 shares of the asset manager’s stock valued at $518,000 after acquiring an additional 9,665 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.
Several brokerages recently issued reports on EV. Zacks Investment Research lowered Eaton Vance from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Citigroup lowered their price target on Eaton Vance from $62.00 to $60.50 and set a “buy” rating on the stock in a research note on Thursday, August 30th. ValuEngine downgraded Eaton Vance from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Finally, Deutsche Bank decreased their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $60.07.
NYSE EV opened at $44.35 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 8.35 and a current ratio of 8.35. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 0.67 and a beta of 1.65. Eaton Vance Corp has a 1-year low of $42.16 and a 1-year high of $60.95.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Wednesday, August 29th. The asset manager reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $430.60 million for the quarter, compared to the consensus estimate of $430.11 million. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. On average, sell-side analysts predict that Eaton Vance Corp will post 3.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.16%. This is an increase from Eaton Vance’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, October 30th. Eaton Vance’s payout ratio is presently 56.45%.
In other news, Director Brian D. Langstraat sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $47.50, for a total value of $617,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Faust, Jr. sold 54,134 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $43.38, for a total value of $2,348,332.92. The disclosure for this sale can be found here. Insiders have sold 149,984 shares of company stock worth $6,618,100 over the last ninety days.
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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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