NN Investment Partners Holdings N.V. cut its stake in Eaton Vance Corp (NYSE:EV) by 37.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,800 shares of the asset manager’s stock after selling 1,100 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Eaton Vance were worth $70,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in EV. Invesco Ltd. increased its stake in Eaton Vance by 1.2% during the 1st quarter. Invesco Ltd. now owns 402,716 shares of the asset manager’s stock worth $12,987,000 after purchasing an additional 4,623 shares in the last quarter. State of Tennessee Treasury Department increased its stake in Eaton Vance by 102.6% during the 1st quarter. State of Tennessee Treasury Department now owns 72,652 shares of the asset manager’s stock worth $2,343,000 after purchasing an additional 36,794 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in Eaton Vance during the 1st quarter worth approximately $2,491,000. The Manufacturers Life Insurance Company increased its stake in Eaton Vance by 2.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 162,054 shares of the asset manager’s stock worth $5,226,000 after purchasing an additional 3,213 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Eaton Vance by 4.9% during the 1st quarter. Legal & General Group Plc now owns 481,787 shares of the asset manager’s stock worth $15,538,000 after purchasing an additional 22,622 shares in the last quarter. 67.51% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Eaton Vance from a “sell” rating to a “hold” rating in a research note on Monday, July 13th. Credit Suisse Group raised their price target on shares of Eaton Vance from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. TheStreet raised shares of Eaton Vance from a “c” rating to a “b-” rating in a research note on Friday, June 19th. Deutsche Bank decreased their price target on shares of Eaton Vance from $41.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Finally, Zacks Investment Research cut shares of Eaton Vance from a “hold” rating to a “sell” rating and set a $40.00 price target for the company. in a research note on Tuesday, May 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $39.75.
NYSE EV opened at $36.14 on Friday. The company has a market cap of $4.12 billion, a PE ratio of 10.30, a PEG ratio of 1.79 and a beta of 1.49. The company has a current ratio of 5.28, a quick ratio of 5.28 and a debt-to-equity ratio of 1.37. Eaton Vance Corp has a 12 month low of $23.59 and a 12 month high of $51.79. The stock has a 50 day moving average of $38.10 and a 200-day moving average of $38.83.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Wednesday, May 20th. The asset manager reported $0.80 EPS for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $405.90 million during the quarter, compared to the consensus estimate of $421.55 million. Eaton Vance had a return on equity of 32.92% and a net margin of 22.48%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, sell-side analysts predict that Eaton Vance Corp will post 3.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 4.15%. The ex-dividend date is Thursday, July 30th. Eaton Vance’s dividend payout ratio is 43.48%.
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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