Renaissance Technologies LLC Purchases New Stake in Eaton Vance Corp (EV)

Renaissance Technologies LLC purchased a new stake in Eaton Vance Corp (NYSE:EV) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 11,300 shares of the asset manager’s stock, valued at approximately $594,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of Eaton Vance by 11.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,012 shares of the asset manager’s stock worth $789,000 after buying an additional 1,484 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Eaton Vance by 1.4% during the 3rd quarter. Prudential Financial Inc. now owns 133,556 shares of the asset manager’s stock worth $7,020,000 after buying an additional 1,890 shares in the last quarter. BlackRock Inc. lifted its position in shares of Eaton Vance by 0.7% during the 3rd quarter. BlackRock Inc. now owns 11,960,586 shares of the asset manager’s stock worth $628,648,000 after buying an additional 80,753 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Eaton Vance by 46.4% during the 3rd quarter. Blair William & Co. IL now owns 6,136 shares of the asset manager’s stock worth $323,000 after buying an additional 1,944 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Eaton Vance by 23.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 18,478 shares of the asset manager’s stock worth $1,016,000 after buying an additional 3,551 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors and hedge funds.

NYSE:EV opened at $40.00 on Wednesday. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $4.64 billion, a P/E ratio of 12.32, a P/E/G ratio of 0.89 and a beta of 1.56. Eaton Vance Corp has a 12 month low of $32.28 and a 12 month high of $58.64.

Eaton Vance (NYSE:EV) last posted its quarterly earnings results on Tuesday, November 27th. The asset manager reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $435.97 million for the quarter, compared to analysts’ expectations of $435.02 million. Eaton Vance had a net margin of 22.44% and a return on equity of 35.94%. As a group, sell-side analysts expect that Eaton Vance Corp will post 3.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.50%. Eaton Vance’s dividend payout ratio (DPR) is presently 43.61%.

Several equities analysts have commented on EV shares. Jefferies Financial Group reissued a “hold” rating and set a $45.00 target price on shares of Eaton Vance in a research report on Monday, November 19th. ValuEngine raised shares of Eaton Vance from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Zacks Investment Research reissued a “sell” rating on shares of Eaton Vance in a research report on Tuesday, November 13th. JPMorgan Chase & Co. cut shares of Eaton Vance from a “neutral” rating to an “underweight” rating and set a $38.00 target price on the stock. in a research report on Wednesday, November 28th. Finally, Citigroup cut shares of Eaton Vance from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $60.50 to $47.00 in a research report on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $42.71.

In related news, Director Winthrop H. Smith, Jr. purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, December 18th. The shares were bought at an average price of $34.89 per share, with a total value of $348,900.00. The purchase was disclosed in a legal filing with the SEC, which is available at 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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Institutional Ownership by Quarter for Eaton Vance (NYSE:EV)

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