Handelsinvest Investeringsforvaltning Purchases 68,200 Shares of Eaton Vance Corporation (EV)
Handelsinvest Investeringsforvaltning boosted its stake in Eaton Vance Corporation (NYSE:EV) by 86.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,700 shares of the asset manager’s stock after buying an additional 68,200 shares during the period. Eaton Vance Corporation comprises about 1.7% of Handelsinvest Investeringsforvaltning’s holdings, making the stock its 23rd largest position. Handelsinvest Investeringsforvaltning owned about 0.13% of Eaton Vance Corporation worth $6,942,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Capital One National Association increased its position in Eaton Vance Corporation by 10.4% in the second quarter. Capital One National Association now owns 44,547 shares of the asset manager’s stock valued at $2,108,000 after buying an additional 4,190 shares during the period. Franklin Resources Inc. acquired a new position in shares of Eaton Vance Corporation during the fourth quarter valued at approximately $1,359,000. HighTower Advisors LLC increased its position in shares of Eaton Vance Corporation by 4.5% in the first quarter. HighTower Advisors LLC now owns 166,598 shares of the asset manager’s stock valued at $7,426,000 after buying an additional 7,172 shares during the last quarter. Norges Bank acquired a new position in shares of Eaton Vance Corporation during the fourth quarter valued at approximately $43,128,000. Finally, CENTRAL TRUST Co increased its position in shares of Eaton Vance Corporation by 6,356.9% in the first quarter. CENTRAL TRUST Co now owns 3,293 shares of the asset manager’s stock valued at $148,000 after buying an additional 3,242 shares during the last quarter. 71.00% of the stock is owned by institutional investors.
Eaton Vance Corporation (NYSE EV) traded down 0.31% on Friday, hitting $48.35. The stock had a trading volume of 369,860 shares. The stock has a market cap of $5.36 billion, a PE ratio of 21.20 and a beta of 1.84. The firm’s 50 day moving average price is $48.18 and its 200-day moving average price is $45.57. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $50.10.
Eaton Vance Corporation (NYSE:EV) last announced its quarterly earnings data on Wednesday, May 24th. The asset manager reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $374.60 million during the quarter, compared to analyst estimates of $373.28 million. Eaton Vance Corporation had a net margin of 18.39% and a return on equity of 36.63%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. On average, analysts forecast that Eaton Vance Corporation will post $2.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, July 27th. Eaton Vance Corporation’s dividend payout ratio is currently 49.34%.
A number of research firms recently commented on EV. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $47.00 target price (up from $40.00) on shares of Eaton Vance Corporation in a research report on Tuesday, June 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $50.00 target price on shares of Eaton Vance Corporation in a research report on Tuesday, May 23rd. Zacks Investment Research upgraded Eaton Vance Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 22nd. Citigroup Inc. boosted their price objective on Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, May 25th. Finally, Bank of America Corporation boosted their price objective on Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.07.
In other news, CEO Matthew J. Witkos sold 24,152 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $47.65, for a total value of $1,150,842.80. Following the transaction, the chief executive officer now directly owns 231,477 shares in the company, valued at approximately $11,029,879.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew J. Witkos sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $48.08, for a total transaction of $1,923,200.00. Following the completion of the transaction, the chief executive officer now owns 243,688 shares in the company, valued at $11,716,519.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,943 shares of company stock valued at $6,149,649.
Eaton Vance Corporation Company Profile
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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