Dorothy E. Puhy Sells 6,495 Shares of Eaton Vance Corporation (EV) Stock
Eaton Vance Corporation (NYSE:EV) Director Dorothy E. Puhy sold 6,495 shares of Eaton Vance Corporation stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $49.38, for a total transaction of $320,723.10. Following the completion of the sale, the director now owns 18,775 shares of the company’s stock, valued at approximately $927,109.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Eaton Vance Corporation (NYSE:EV) opened at 50.34 on Wednesday. Eaton Vance Corporation has a 52 week low of $34.44 and a 52 week high of $50.36. The company’s 50-day moving average price is $47.48 and its 200 day moving average price is $46.56. The company has a market capitalization of $5.64 billion, a PE ratio of 21.89 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $393.70 million during 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%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the company earned $0.56 EPS. On average, equities research analysts anticipate that Eaton Vance Corporation will post $2.46 EPS for the current year.
Several research analysts have weighed in on EV shares. Zacks Investment Research raised shares of Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Thursday, June 8th. J P Morgan Chase & Co reissued an “underweight” rating and issued a $47.00 target price (up previously from $40.00) on shares of Eaton Vance Corporation in a research report on Tuesday, June 6th. BidaskClub downgraded shares of Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Jefferies Group LLC restated a “hold” rating and issued a $46.00 target price on shares of Eaton Vance Corporation in a research note on Friday, August 18th. Finally, Credit Suisse Group upped their target price on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $50.21.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP raised its stake in shares of Eaton Vance Corporation by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 14 shares in the last quarter. Nordea Investment Management AB lifted its position 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 worth $150,000 after purchasing an additional 1,900 shares during the period. Pacad Investment Ltd. bought a new position in Eaton Vance Corporation in the second quarter worth $166,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position 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 worth $180,000 after purchasing an additional 1,400 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position 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 worth $199,000 after purchasing an additional 1,296 shares during the period. Institutional investors and hedge funds own 68.91% of the company’s stock.
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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