Eaton Vance Corp (NYSE:EV) Director Leo I. Higdon, Jr. sold 4,883 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $44.32, for a total transaction of $216,414.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of EV stock opened at $44.34 on Friday. The company has a fifty day simple moving average of $42.11. Eaton Vance Corp has a 52 week low of $32.28 and a 52 week high of $54.44. The company has a debt-to-equity ratio of 1.49, a quick ratio of 11.82 and a current ratio of 11.82. The stock has a market cap of $5.06 billion, a P/E ratio of 13.49, a PEG ratio of 2.50 and a beta of 1.59.
Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, May 21st. The asset manager reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.13. Eaton Vance had a net margin of 23.50% and a return on equity of 35.53%. The business had revenue of $411.86 million for the quarter, compared to the consensus estimate of $411.42 million. During the same quarter last year, the firm posted $0.77 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts forecast that Eaton Vance Corp will post 3.34 earnings per share for the current fiscal year.
Eaton Vance declared that its Board of Directors has approved a share buyback plan on Wednesday, July 10th that allows the company to repurchase 8,000,000 outstanding shares. This repurchase authorization allows the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Tuesday, July 30th. Eaton Vance’s dividend payout ratio is presently 43.61%.
Several hedge funds have recently modified their holdings of EV. Norges Bank purchased a new position in shares of Eaton Vance in the 4th quarter valued at $33,744,000. Two Sigma Investments LP purchased a new position in shares of Eaton Vance in the 4th quarter valued at $25,731,000. Deutsche Bank AG increased its stake in Eaton Vance by 349.5% during the 4th quarter. Deutsche Bank AG now owns 663,858 shares of the asset manager’s stock worth $23,351,000 after buying an additional 516,159 shares during the period. Lazard Asset Management LLC purchased a new stake in Eaton Vance during the 1st quarter worth $14,750,000. Finally, Two Sigma Advisers LP increased its stake in Eaton Vance by 3,594.3% during the 4th quarter. Two Sigma Advisers LP now owns 374,230 shares of the asset manager’s stock worth $13,165,000 after buying an additional 364,100 shares during the period. 71.75% of the stock is currently owned by institutional investors and hedge funds.
EV has been the topic of a number of analyst reports. Credit Suisse Group initiated coverage on shares of Eaton Vance in a research report on Wednesday, June 12th. They set a “neutral” rating and a $44.00 target price on the stock. Zacks Investment Research lowered shares of Hammerson from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Bank of America set a $24.00 target price on shares of MakeMyTrip and gave the stock a “sell” rating in a research report on Monday, May 20th. Finally, ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $42.00.
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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