State of Wisconsin Investment Board Sells 25,700 Shares of Eaton Vance Corporation (EV)
State of Wisconsin Investment Board lessened its holdings in shares of Eaton Vance Corporation (NYSE:EV) by 34.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,209 shares of the asset manager’s stock after selling 25,700 shares during the period. State of Wisconsin Investment Board’s holdings in Eaton Vance Corporation were worth $2,281,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. BlackRock Inc. raised its stake in Eaton Vance Corporation by 3,407.1% during the first quarter. BlackRock Inc. now owns 10,878,915 shares of the asset manager’s stock worth $489,118,000 after buying an additional 10,568,715 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Eaton Vance Corporation by 36.2% during the first quarter. Bank of New York Mellon Corp now owns 2,463,381 shares of the asset manager’s stock worth $110,753,000 after buying an additional 654,761 shares during the last quarter. Vanguard Group Inc. raised its stake in Eaton Vance Corporation by 6.1% during the first quarter. Vanguard Group Inc. now owns 10,398,957 shares of the asset manager’s stock worth $467,537,000 after buying an additional 600,222 shares during the last quarter. Schroder Investment Management Group raised its stake in Eaton Vance Corporation by 63.7% during the first quarter. Schroder Investment Management Group now owns 802,743 shares of the asset manager’s stock worth $36,035,000 after buying an additional 312,456 shares during the last quarter. Finally, JLB & Associates Inc. bought a new position in Eaton Vance Corporation during the second quarter worth $7,369,000. Institutional investors own 68.91% of the company’s stock.
Shares of Eaton Vance Corporation (NYSE EV) opened at 47.42 on Monday. Eaton Vance Corporation has a 1-year low of $34.44 and a 1-year high of $50.10. The company has a market capitalization of $5.28 billion, a P/E ratio of 20.62 and a beta of 1.85. The firm has a 50-day moving average of $47.96 and a 200 day moving average of $46.30.
Eaton Vance Corporation (NYSE:EV) last posted its earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.05. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The company had revenue of $393.70 million during the quarter, compared to analysts’ expectations of $398.74 million. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts expect that Eaton Vance Corporation will post $2.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.12 annualized dividend and a dividend yield of 2.36%. Eaton Vance Corporation’s dividend payout ratio is 48.70%.
A number of equities analysts recently weighed in on EV shares. Bank of America Corporation lifted their target price on shares of Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, May 25th. Citigroup Inc. raised shares of Eaton Vance Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $54.50 in a research note on Monday, June 5th. Zacks Investment Research raised shares of Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, June 8th. Jefferies Group LLC lifted their target price on shares of Eaton Vance Corporation from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, May 22nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $50.00 target price on shares of Eaton Vance Corporation in a research note on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $50.21.
In other news, Director Dorothy E. Puhy sold 2,563 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $48.46, for a total value of $124,202.98. Following the completion of the sale, the director now directly owns 14,473 shares of the company’s stock, valued at approximately $701,361.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frederick S. Marius sold 8,915 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $47.55, for a total transaction of $423,908.25. Following the completion of the sale, the insider now directly owns 30,955 shares of the company’s stock, valued at $1,471,910.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,858 shares of company stock valued at $6,573,557.
Eaton Vance Corporation 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.
Receive News & Stock Ratings for Eaton Vance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Vance Corporation and related stocks with our FREE daily email newsletter.