Eaton Vance Corp. (NYSE:EV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Eaton Vance Corp.’s principal business is creating, marketing and managing investment funds and providing investment management and counseling services to institutions and individuals.The Company conducts its investment management and counseling business through two wholly-owned subsidiaries, Eaton Vance Management and Boston Management and Research.The Company’s growth has resulted from its ability to develop, offer successfully and manage effectively new funds and to increase the assets of existing Eaton Vance Funds. “

EV has been the subject of several other reports. Credit Suisse Group AG restated a “hold” rating and issued a $37.00 price target on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Keefe, Bruyette & Woods boosted their price target on Eaton Vance Corp. from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, August 19th. Finally, Jefferies Group boosted their price target on Eaton Vance Corp. from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, August 11th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Eaton Vance Corp. presently has an average rating of “Hold” and an average target price of $37.54.

Shares of Eaton Vance Corp. (NYSE:EV) opened at 38.92 on Wednesday. The stock’s 50 day moving average price is $39.23 and its 200 day moving average price is $36.52. Eaton Vance Corp. has a one year low of $26.44 and a one year high of $40.36. The company has a market cap of $4.24 billion, a PE ratio of 18.69 and a beta of 1.76.

Eaton Vance Corp. (NYSE:EV) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The business earned $341.20 million during the quarter. Eaton Vance Corp. had a return on equity of 39.06% and a net margin of 17.83%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Equities analysts predict that Eaton Vance Corp. will post $2.13 earnings per share for the current fiscal year.

In other Eaton Vance Corp. news, Director Dorothy E. Puhy sold 6,197 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $38.75, for a total value of $240,133.75. Following the completion of the transaction, the director now owns 15,787 shares of the company’s stock, valued at approximately $611,746.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Witkos sold 94,408 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $40.08, for a total value of $3,783,872.64. Following the completion of the transaction, the chief executive officer now directly owns 197,077 shares of the company’s stock, valued at approximately $7,898,846.16. The disclosure for this sale can be found here.

A number of institutional investors have recently modified their holdings of the company. Smith Asset Management Group LP purchased a new position in shares of Eaton Vance Corp. during the second quarter worth about $12,635,000. BlackRock Japan Co. Ltd boosted its position in shares of Eaton Vance Corp. by 7.1% in the first quarter. BlackRock Japan Co. Ltd now owns 149,052 shares of the company’s stock worth $4,996,000 after buying an additional 9,922 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of Eaton Vance Corp. by 31.5% in the second quarter. LS Investment Advisors LLC now owns 11,921 shares of the company’s stock worth $421,000 after buying an additional 2,857 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Eaton Vance Corp. by 24.4% in the first quarter. Goldman Sachs Group Inc. now owns 330,356 shares of the company’s stock worth $11,074,000 after buying an additional 64,890 shares during the last quarter. Finally, Americafirst Capital Management LLC purchased a new position in shares of Eaton Vance Corp. during the second quarter worth about $102,000. 70.88% of the stock is owned by institutional investors and hedge funds.

Eaton Vance Corp. Company Profile

Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels.

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