Insider Selling: Eaton Vance Corp (EV) CEO Sells 43,500 Shares of Stock

Eaton Vance Corp (NYSE:EV) CEO Thomas E. Faust, Jr. sold 43,500 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $43.01, for a total value of $1,870,935.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE EV traded up $0.51 during trading hours on Thursday, hitting $41.58. The company had a trading volume of 933,078 shares, compared to its average volume of 1,014,385. Eaton Vance Corp has a fifty-two week low of $40.40 and a fifty-two week high of $60.95. The company has a debt-to-equity ratio of 1.14, a current ratio of 8.35 and a quick ratio of 8.35. The firm has a market capitalization of $4.85 billion, a PE ratio of 16.77, a P/E/G ratio of 0.62 and a beta of 1.65.

Eaton Vance (NYSE:EV) last issued its earnings results on Wednesday, August 29th. The asset manager reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The firm had revenue of $430.60 million for the quarter, compared to analyst estimates of $430.11 million. During the same period last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that Eaton Vance Corp will post 3.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were paid a $0.35 dividend. This is a boost from Eaton Vance’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.37%. Eaton Vance’s dividend payout ratio is presently 56.45%.

Large investors have recently added to or reduced their stakes in the company. Zebra Capital Management LLC grew its stake in shares of Eaton Vance by 107.1% in the second 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 in the last quarter. Korea Investment CORP bought a new position in Eaton Vance during the second quarter valued at about $193,000. Schwab Charles Investment Management Inc. boosted its stake in Eaton Vance by 5.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 910,937 shares of the asset manager’s stock valued at $47,542,000 after buying an additional 43,271 shares in the last quarter. Laurion Capital Management LP bought a new position in Eaton Vance during the second quarter valued at about $236,000. Finally, Natixis bought a new position in Eaton Vance during the second quarter valued at about $300,000. 67.09% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on the company. Citigroup dropped their price target on Eaton Vance from $62.00 to $60.50 and set a “buy” rating on the stock in a research report on Thursday, August 30th. Zacks Investment Research lowered Eaton Vance from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Deutsche Bank dropped their price target on Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 27th. ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $48.00 price target on shares of Eaton Vance in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Eaton Vance presently has an average rating of “Hold” and an average price target of $55.13.

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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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