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 hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in Eaton Vance by 2.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,890,867 shares of the asset manager’s stock worth $80,930,000 after buying an additional 41,251 shares in the last quarter. Northern Trust Corp grew its holdings in Eaton Vance by 0.8% during the second quarter. Northern Trust Corp now owns 1,252,493 shares of the asset manager’s stock worth $54,019,000 after acquiring an additional 10,416 shares during the period. Invesco Ltd. grew its holdings in Eaton Vance by 16.8% during the second quarter. Invesco Ltd. now owns 1,238,869 shares of the asset manager’s stock worth $53,432,000 after acquiring an additional 178,553 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Eaton Vance by 3.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,150,040 shares of the asset manager’s stock worth $49,602,000 after acquiring an additional 37,233 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Eaton Vance by 18.6% during the second quarter. Schroder Investment Management Group now owns 963,410 shares of the asset manager’s stock worth $41,552,000 after acquiring an additional 151,422 shares during the period. Institutional investors own 70.89% of the company’s stock.
Several research firms recently commented on EV. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Friday, August 30th. Credit Suisse Group raised their target price on Eaton Vance from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. ValuEngine raised Eaton Vance from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, 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 report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.57.
In other Eaton Vance news, Director Brian D. Langstraat sold 3,743 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $45.03, for a total value of $168,547.29. Also, CEO Thomas E. Faust, Jr. sold 51,110 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $45.03, for a total value of $2,301,483.30. Over the last three months, insiders sold 147,964 shares of company stock worth $6,784,832.
EV traded up $0.09 during trading on Friday, hitting $47.96. The company’s stock had a trading volume of 337,218 shares, compared to its average volume of 835,008. The company has a current ratio of 11.85, a quick ratio of 11.85 and a debt-to-equity ratio of 1.98. Eaton Vance Corp has a twelve month low of $32.28 and a twelve month high of $48.58. The business’s fifty day simple moving average is $44.75 and its 200 day simple moving average is $42.60. The firm 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.
Eaton Vance (NYSE:EV) last issued its quarterly earnings data on Tuesday, August 27th. The asset manager reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Eaton Vance had a return on equity of 35.45% and a net margin of 23.51%. The company had revenue of $431.24 million for the quarter, compared to analyst estimates of $433.98 million. During the same period last year, the company earned $0.82 earnings per share. Eaton Vance’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Eaton Vance Corp will post 3.4 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.375 dividend. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.35. This represents a $1.50 annualized dividend and a yield of 3.13%. The ex-dividend date is Wednesday, October 30th. Eaton Vance’s dividend payout ratio (DPR) is presently 46.73%.
Eaton Vance 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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