Investec Asset Management LTD Has $6.31 Million Position in Eaton Vance Corporation (EV)
Investec Asset Management LTD increased its stake in shares of Eaton Vance Corporation (NYSE:EV) by 25.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,366 shares of the asset manager’s stock after purchasing an additional 27,290 shares during the period. Investec Asset Management LTD owned approximately 0.12% of Eaton Vance Corporation worth $6,311,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in Eaton Vance Corporation by 131.9% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock valued at $150,000 after acquiring an additional 1,900 shares during the period. Pacad Investment Ltd. acquired a new position in Eaton Vance Corporation in the second quarter valued at about $166,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Eaton Vance Corporation by 53.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock valued at $180,000 after acquiring an additional 1,400 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Eaton Vance Corporation by 44.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock valued at $199,000 after acquiring an additional 1,296 shares during the period. Finally, Probity Advisors Inc. acquired a new position in Eaton Vance Corporation in the first quarter valued at about $204,000. 68.91% of the stock is owned by institutional investors and hedge funds.
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In other Eaton Vance Corporation news, insider Jeffrey P. Beale sold 39,343 shares of Eaton Vance Corporation stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $48.30, for a total transaction of $1,900,266.90. Following the completion of the transaction, the insider now owns 343,509 shares in the company, valued at approximately $16,591,484.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederick S. Marius sold 8,915 shares of Eaton Vance Corporation stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $47.55, for a total value of $423,908.25. Following the transaction, the insider now owns 30,955 shares of the company’s stock, valued at approximately $1,471,910.25. The disclosure for this sale can be found here. Insiders have sold a total of 72,410 shares of company stock valued at $3,475,018 in the last quarter.
A number of research analysts have issued reports on EV shares. Citigroup Inc. raised Eaton Vance Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $54.50 in a research note on Monday, June 5th. Jefferies Group LLC restated a “hold” rating and issued a $45.00 price target on shares of Eaton Vance Corporation in a report on Wednesday, June 28th. BidaskClub lowered Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Bank of America Corporation boosted their price target on Eaton Vance Corporation from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Finally, J P Morgan Chase & Co upgraded Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price target on the stock in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Eaton Vance Corporation presently has a consensus rating of “Hold” and a consensus target price of $50.21.
Shares of Eaton Vance Corporation (EV) opened at 47.93 on Wednesday. The company’s 50-day moving average price is $47.26 and its 200 day moving average price is $46.38. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 20.84 and a beta of 1.85. 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 released its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $393.70 million for the quarter, compared to analyst estimates of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. Eaton Vance Corporation’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. Equities analysts predict that Eaton Vance Corporation will post $2.46 earnings per share for the current year.
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.
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