Eaton Vance Corporation (EV) Shares Sold by Gabelli Funds LLC
Gabelli Funds LLC reduced its position in shares of Eaton Vance Corporation (NYSE:EV) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,000 shares of the asset manager’s stock after selling 5,000 shares during the period. Gabelli Funds LLC’s holdings in Eaton Vance Corporation were worth $1,925,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. increased its holdings in Eaton Vance Corporation by 437.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 1,653 shares during the period. WFG Advisors LP increased its holdings in 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 during the period. Pacad Investment Ltd. acquired a new stake in Eaton Vance Corporation in the second quarter valued at $166,000. Northwestern Mutual Wealth Management Co. boosted its position in Eaton Vance Corporation by 44.7% during 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 last quarter. Finally, Quantbot Technologies LP bought a new stake in Eaton Vance Corporation during the second quarter valued at $203,000. Institutional investors and hedge funds own 69.20% of the company’s stock.
Eaton Vance Corporation (NYSE:EV) opened at $50.89 on Tuesday. The company has a market cap of $5,930.00, a P/E ratio of 21.78, a P/E/G ratio of 0.98 and a beta of 1.85. Eaton Vance Corporation has a fifty-two week low of $38.73 and a fifty-two week high of $52.36. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 0.69.
Eaton Vance Corporation (NYSE:EV) last announced 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 firm had revenue of $393.70 million during the quarter, compared to the consensus estimate of $398.74 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. analysts predict that Eaton Vance Corporation will post 2.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.44%. This is an increase from Eaton Vance Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, October 30th. Eaton Vance Corporation’s dividend payout ratio (DPR) is presently 53.91%.
Several brokerages recently weighed in on EV. Zacks Investment Research raised shares of Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, November 2nd. Deutsche Bank AG began coverage on shares of Eaton Vance Corporation in a research report on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $46.00 price objective on shares of Eaton Vance Corporation in a research note on Friday, August 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $53.00 price objective on shares of Eaton Vance Corporation in a research note on Friday. Finally, Bank of America Corporation increased their price objective on shares of Eaton Vance Corporation from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $52.06.
In related news, insider Frederick S. Marius sold 7,574 shares of Eaton Vance Corporation stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $47.99, for a total value of $363,476.26. Following the transaction, the insider now owns 26,128 shares in the company, valued at approximately $1,253,882.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederick S. Marius sold 8,915 shares of Eaton Vance Corporation stock in a transaction on 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 transaction, the insider now owns 30,955 shares in the company, valued at approximately $1,471,910.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 596,037 shares of company stock valued at $29,808,641.
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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