Cambridge Investment Research Advisors Inc. Boosts Stake in Eaton Vance Corp (NYSE:EV)
Cambridge Investment Research Advisors Inc. raised its stake in Eaton Vance Corp (NYSE:EV) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,774 shares of the asset manager’s stock after acquiring an additional 1,822 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Eaton Vance were worth $596,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC bought a new position in Eaton Vance in the 4th quarter valued at approximately $31,000. Quadrant Capital Group LLC raised its holdings in Eaton Vance by 295.2% in the 1st quarter. Quadrant Capital Group LLC now owns 913 shares of the asset manager’s stock valued at $33,000 after buying an additional 682 shares during the last quarter. Strs Ohio raised its holdings in Eaton Vance by 28.5% in the 1st quarter. Strs Ohio now owns 1,706 shares of the asset manager’s stock valued at $68,000 after buying an additional 378 shares during the last quarter. Private Capital Group LLC raised its holdings in Eaton Vance by 183.8% in the 1st quarter. Private Capital Group LLC now owns 1,910 shares of the asset manager’s stock valued at $77,000 after buying an additional 1,237 shares during the last quarter. Finally, Pennsylvania Trust Co bought a new position in Eaton Vance in the 1st quarter valued at approximately $353,000. 70.24% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. Credit Suisse Group assumed coverage on shares of Eaton Vance in a report on Wednesday. They set a “neutral” rating and a $44.00 price target for the company. Zacks Investment Research upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday, May 24th. Bank of America lowered shares of Eaton Vance from a “buy” rating to an “underperform” rating in a report on Monday, May 20th. Finally, ValuEngine lowered shares of Eaton Vance from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.00.
Eaton Vance stock opened at $41.12 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 11.82 and a quick ratio of 11.82. Eaton Vance Corp has a 52-week low of $32.28 and a 52-week high of $55.93. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.33 and a beta of 1.57.
Eaton Vance (NYSE:EV) last announced its quarterly earnings data on Tuesday, May 21st. The asset manager reported $0.89 EPS for the quarter, topping the consensus estimate of $0.76 by $0.13. The company had revenue of $411.86 million during the quarter, compared to the consensus estimate of $411.42 million. Eaton Vance had a net margin of 23.50% and a return on equity of 35.53%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Analysts forecast that Eaton Vance Corp will post 3.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Monday, April 29th. Eaton Vance’s dividend payout ratio (DPR) is 43.61%.
Eaton Vance Profile
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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