Eaton Vance Corporation (EV) Director Leo I. Higdon, Jr. Sells 6,865 Shares of Stock
Eaton Vance Corporation (NYSE:EV) Director Leo I. Higdon, Jr. sold 6,865 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $48.08, for a total transaction of $330,069.20. Following the completion of the sale, the director now owns 11,626 shares of the company’s stock, valued at approximately $558,978.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Eaton Vance Corporation (NYSE EV) traded up 0.29% during mid-day trading on Friday, reaching $48.16. 432,586 shares of the company were exchanged. The stock has a 50-day moving average price of $47.26 and a 200 day moving average price of $46.38. Eaton Vance Corporation has a one year low of $34.44 and a one year high of $50.10. The company has a market capitalization of $5.40 billion, a PE ratio of 20.94 and a beta of 1.85.
Eaton Vance Corporation (NYSE:EV) last released its quarterly 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 net margin of 18.03% and a return on equity of 34.47%. The business had revenue of $393.70 million for the quarter, compared to analysts’ expectations of $398.74 million. During the same period in the previous year, the company earned $0.56 EPS. Eaton Vance Corporation’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts predict that Eaton Vance Corporation will post $2.46 EPS for the current year.
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A number of research firms recently issued reports on EV. Jefferies Group LLC restated a “hold” rating and set a $46.00 price objective on shares of Eaton Vance Corporation in a report on Friday, August 18th. Zacks Investment Research downgraded shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. J P Morgan Chase & Co restated an “underweight” rating and set a $47.00 price objective (up previously from $40.00) on shares of Eaton Vance Corporation in a report on Tuesday, June 6th. Finally, Citigroup Inc. upgraded shares of Eaton Vance Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $54.50 in a report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Eaton Vance Corporation currently has an average rating of “Hold” and an average target price of $50.21.
Institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP increased its holdings in Eaton Vance Corporation by 0.6% in the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after acquiring an additional 14 shares in the last quarter. Nordea Investment Management AB increased its holdings in Eaton Vance Corporation by 131.9% in the 1st quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock worth $150,000 after acquiring an additional 1,900 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Eaton Vance Corporation in the 2nd quarter worth approximately $166,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Eaton Vance Corporation by 53.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock worth $180,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Eaton Vance Corporation by 44.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock worth $199,000 after acquiring an additional 1,296 shares in the last quarter. 68.91% of the stock is owned by institutional investors.
About Eaton Vance Corporation
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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