Herndon Capital Management LLC cut its stake in shares of Eaton Vance Corp. (NYSE:EV) by 47.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,414,149 shares of the company’s stock after selling 1,295,899 shares during the period. Herndon Capital Management LLC owned 1.29% of Eaton Vance Corp. worth $49,976,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new position in shares of Eaton Vance Corp. during the second quarter valued at $102,000. Strs Ohio increased its stake in shares of Eaton Vance Corp. by 4,947.9% in the second quarter. Strs Ohio now owns 3,685 shares of the company’s stock valued at $130,000 after buying an additional 3,612 shares during the period. Creative Planning increased its stake in shares of Eaton Vance Corp. by 8.4% in the second quarter. Creative Planning now owns 4,875 shares of the company’s stock valued at $172,000 after buying an additional 378 shares during the period. Bank of Montreal Can purchased a new stake in shares of Eaton Vance Corp. during the second quarter valued at about $176,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Eaton Vance Corp. by 3.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,256 shares of the company’s stock valued at $291,000 after buying an additional 304 shares during the period. Institutional investors own 70.86% of the company’s stock.

Institutional Ownership by Quarter for Eaton Vance Corp. (NYSE:EV)

Shares of Eaton Vance Corp. (NYSE:EV) traded down 0.32% on Tuesday, hitting $37.21. 503,190 shares of the stock traded hands. The stock has a 50 day moving average price of $38.81 and a 200-day moving average price of $36.78. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 17.87 and a beta of 1.76. Eaton Vance Corp. has a 52 week low of $26.44 and a 52 week high of $40.36.

Eaton Vance Corp. (NYSE:EV) last posted its earnings results on Wednesday, August 17th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The company earned $341.20 million during the quarter. Eaton Vance Corp. had a net margin of 17.83% and a return on equity of 39.06%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. On average, equities research analysts forecast that Eaton Vance Corp. will post $2.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, October 27th. This is an increase from Eaton Vance Corp.’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 3.01%. Eaton Vance Corp.’s payout ratio is presently 51.46%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Eaton Vance Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Credit Suisse Group AG reiterated a “hold” rating and issued a $37.00 target price on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Keefe, Bruyette & Woods raised their target price on shares of 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 raised their target price on shares of Eaton Vance Corp. from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Tuesday, August 16th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $37.54.

In other Eaton Vance Corp. news, insider Jeffrey P. Beale sold 53,153 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $39.58, for a total value of $2,103,795.74. Following the completion of the sale, the insider now directly owns 327,591 shares of the company’s stock, valued at approximately $12,966,051.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $240,133.75. Following the completion of the sale, the director now directly owns 15,787 shares of the company’s stock, valued at $611,746.25. The disclosure for this sale can be found here.

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.

5 Day Chart for NYSE:EV

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