Boston Private Wealth LLC Sells 230 Shares of Eaton Vance Corporation (EV)

Boston Private Wealth LLC cut its position in Eaton Vance Corporation (NYSE:EV) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,500 shares of the asset manager’s stock after selling 230 shares during the period. Boston Private Wealth LLC’s holdings in Eaton Vance Corporation were worth $2,200,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TrimTabs Asset Management LLC increased its position in Eaton Vance Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager’s stock valued at $122,000 after buying an additional 1,272 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Eaton Vance Corporation by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager’s stock valued at $127,000 after buying an additional 148 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Eaton Vance Corporation by 20.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager’s stock valued at $130,000 after buying an additional 501 shares during the period. Nordea Investment Management AB increased 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 valued at $150,000 after buying an additional 1,900 shares during the period. Finally, Neuburgh Advisers LLC increased its position in Eaton Vance Corporation by 25.8% in the first quarter. Neuburgh Advisers LLC now owns 3,744 shares of the asset manager’s stock valued at $168,000 after buying an additional 768 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Eaton Vance Corporation (EV) opened at 46.58 on Tuesday. The stock’s 50 day moving average is $48.16 and its 200 day moving average is $46.07. The firm has a market cap of $5.16 billion, a P/E ratio of 20.42 and a beta of 1.84. Eaton Vance Corporation has a 12-month low of $34.44 and a 12-month high of $50.10.

Eaton Vance Corporation (NYSE:EV) last posted its earnings results on Wednesday, May 24th. The asset manager reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $374.60 million during the quarter, compared to analysts’ expectations of $373.28 million. Eaton Vance Corporation had a return on equity of 36.63% and a net margin of 18.39%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, equities research analysts expect that Eaton Vance Corporation will post $2.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, July 27th. Eaton Vance Corporation’s payout ratio is 49.34%.

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Several equities analysts have recently issued reports on EV shares. Zacks Investment Research upgraded shares of Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Thursday, June 8th. Citigroup Inc. upgraded shares of Eaton Vance Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $54.50 in a report on Monday, June 5th. Jefferies Group LLC restated a “hold” rating and set a $45.00 price objective on shares of Eaton Vance Corporation in a report on Wednesday, June 28th. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price objective on shares of Eaton Vance Corporation in a report on Tuesday, May 23rd. Finally, Bank of America Corporation upped their price objective on shares of Eaton Vance Corporation from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Eaton Vance Corporation has a consensus rating of “Hold” and a consensus target price of $50.07.

In other Eaton Vance Corporation news, CEO Matthew J. Witkos sold 40,000 shares of Eaton Vance Corporation stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $48.08, for a total transaction of $1,923,200.00. Following the transaction, the chief executive officer now owns 243,688 shares of the company’s stock, valued at $11,716,519.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffrey P. Beale sold 39,343 shares of Eaton Vance Corporation stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $48.30, for a total value of $1,900,266.90. Following the transaction, the insider now directly owns 343,509 shares in the company, valued at approximately $16,591,484.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,943 shares of company stock valued at $6,149,649.

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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Institutional Ownership by Quarter for Eaton Vance Corporation (NYSE:EV)

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