Thomas E. Faust, Jr. Sells 57,832 Shares of Eaton Vance Corporation (EV) Stock
Eaton Vance Corporation (NYSE:EV) CEO Thomas E. Faust, Jr. sold 57,832 shares of Eaton Vance Corporation stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $49.67, for a total transaction of $2,872,515.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Eaton Vance Corporation (NYSE:EV) traded down 0.68% during midday trading on Wednesday, reaching $50.00. The company had a trading volume of 613,973 shares. The company’s 50-day moving average is $47.48 and its 200 day moving average is $46.56. The company has a market cap of $5.60 billion, a PE ratio of 21.74 and a beta of 1.84. Eaton Vance Corporation has a 52-week low of $34.44 and a 52-week high of $50.40.
Eaton Vance Corporation (NYSE:EV) last issued 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 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%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. On average, equities research analysts forecast that Eaton Vance Corporation will post $2.46 EPS for the current year.
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Several institutional investors have recently made changes to their positions in the company. Capital One National Association raised its holdings in shares of Eaton Vance Corporation by 10.4% in the 2nd quarter. Capital One National Association now owns 44,547 shares of the asset manager’s stock valued at $2,108,000 after purchasing an additional 4,190 shares during the period. HighTower Advisors LLC lifted its stake in Eaton Vance Corporation by 4.5% in the 1st quarter. HighTower Advisors LLC now owns 166,598 shares of the asset manager’s stock valued at $7,426,000 after purchasing an additional 7,172 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Eaton Vance Corporation during the second quarter worth about $2,350,000. UBS Group AG grew its holdings in Eaton Vance Corporation by 22.9% during the first quarter. UBS Group AG now owns 132,230 shares of the asset manager’s stock worth $5,945,000 after purchasing an additional 24,680 shares during the period. Finally, Legal & General Group Plc grew its holdings in Eaton Vance Corporation by 12.9% during the second quarter. Legal & General Group Plc now owns 210,367 shares of the asset manager’s stock worth $9,956,000 after purchasing an additional 24,112 shares during the period. Institutional investors own 68.91% of the company’s stock.
Several equities analysts have recently issued reports on the stock. J P Morgan Chase & Co reissued an “underweight” rating and set a $47.00 price target (up previously from $40.00) on shares of Eaton Vance Corporation in a report on Tuesday, June 6th. Zacks Investment Research upgraded 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. Jefferies Group LLC reiterated a “hold” rating and set a $45.00 price target on shares of Eaton Vance Corporation in a research 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. Finally, Credit Suisse Group lifted their price objective on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Eaton Vance Corporation currently has an average rating of “Hold” and a consensus target price of $50.21.
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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