Eaton Vance Corp. (NYSE:EV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

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. “

A number of other equities analysts have also recently issued reports on EV. Citigroup Inc. reaffirmed a “neutral” rating on shares of Eaton Vance Corp. in a report on Sunday, October 23rd. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $37.00 target price on shares of Eaton Vance Corp. in a report on Thursday, September 1st. Keefe, Bruyette & Woods upped their target price on Eaton Vance Corp. from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, August 19th. Finally, Jefferies Group upped their target price on Eaton Vance Corp. from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $37.24.

Analyst Recommendations for Eaton Vance Corp. (NYSE:EV)

Eaton Vance Corp. (NYSE:EV) opened at 39.63 on Monday. The stock’s 50 day moving average price is $37.62 and its 200 day moving average price is $37.33. The company has a market cap of $4.32 billion, a PE ratio of 19.03 and a beta of 1.78. Eaton Vance Corp. has a 12-month low of $26.44 and a 12-month high of $40.85.

Eaton Vance Corp. (NYSE:EV) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by $0.02. Eaton Vance Corp. had a return on equity of 39.06% and a net margin of 17.83%. The business had revenue of $346.85 million for the quarter, compared to the consensus estimate of $341.46 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. Eaton Vance Corp.’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Eaton Vance Corp. will post $2.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $1.12 annualized dividend and a yield of 2.83%. This is a boost from Eaton Vance Corp.’s previous quarterly dividend of $0.27. Eaton Vance Corp.’s dividend payout ratio (DPR) is currently 54.37%.

In related news, CEO Thomas E. Faust, Jr. sold 25,537 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $35.33, for a total transaction of $902,222.21. Following the completion of the sale, the chief executive officer now owns 2,722,582 shares of the company’s stock, valued at $96,188,822.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Laurie G. Hylton sold 25,184 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $35.20, for a total value of $886,476.80. Following the sale, the chief financial officer now directly owns 201,745 shares of the company’s stock, valued at approximately $7,101,424. The disclosure for this sale can be found here.

A number of large investors have recently added to or reduced their stakes in the company. JLB & Associates Inc. boosted its stake in Eaton Vance Corp. by 2.4% in the second quarter. JLB & Associates Inc. now owns 149,784 shares of the company’s stock valued at $5,293,000 after buying an additional 3,557 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Eaton Vance Corp. by 31.5% in the second quarter. LS Investment Advisors LLC now owns 11,921 shares of the company’s stock valued at $421,000 after buying an additional 2,857 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in Eaton Vance Corp. by 26.3% in the second quarter. Leavell Investment Management Inc. now owns 12,000 shares of the company’s stock valued at $424,000 after buying an additional 2,500 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in Eaton Vance Corp. during the second quarter valued at approximately $102,000. Finally, Somerset Trust Co boosted its stake in Eaton Vance Corp. by 2.5% in the second quarter. Somerset Trust Co now owns 14,999 shares of the company’s stock valued at $530,000 after buying an additional 372 shares in the last quarter. 72.30% of the stock is owned by institutional investors and hedge funds.

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About Eaton Vance Corp.

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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