Great Lakes Advisors LLC increased its stake in shares of Eaton Vance Corp (NYSE:EV) by 12.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 44,844 shares of the asset manager’s stock after purchasing an additional 4,806 shares during the period. Great Lakes Advisors LLC’s holdings in Eaton Vance were worth $2,015,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Eaton Vance in the 3rd quarter valued at about $41,000. Advisory Services Network LLC raised its holdings in shares of Eaton Vance by 59.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,092 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 407 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Eaton Vance by 155.6% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,411 shares of the asset manager’s stock valued at $60,000 after acquiring an additional 859 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in shares of Eaton Vance in the 2nd quarter valued at about $77,000. Finally, HM Payson & Co. purchased a new stake in shares of Eaton Vance in the 2nd quarter valued at about $89,000. 70.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE EV opened at $48.07 on Friday. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 2.45 and a beta of 1.56. The company has a current ratio of 11.85, a quick ratio of 11.85 and a debt-to-equity ratio of 1.98. Eaton Vance Corp has a 1-year low of $32.28 and a 1-year high of $48.58. The stock’s 50-day moving average is $45.11 and its 200 day moving average is $42.78.
Eaton Vance (NYSE:EV) last announced its quarterly earnings data on Tuesday, August 27th. The asset manager reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. The company had revenue of $431.24 million for the quarter, compared to analysts’ expectations of $433.98 million. Eaton Vance had a return on equity of 35.45% and a net margin of 23.51%. Eaton Vance’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. On average, analysts forecast that Eaton Vance Corp will post 3.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.12%. This is a boost from Eaton Vance’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, October 30th. Eaton Vance’s dividend payout ratio (DPR) is currently 46.73%.
In related news, CEO Thomas E. Faust, Jr. sold 51,110 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $45.03, for a total transaction of $2,301,483.30. Also, CEO Thomas E. Faust, Jr. sold 54,577 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $46.43, for a total value of $2,534,010.11. Over the last three months, insiders have sold 147,964 shares of company stock worth $6,784,832.
EV has been the topic of several recent analyst reports. ValuEngine cut Eaton Vance from a “hold” rating to a “sell” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on Eaton Vance from $44.00 to $42.00 and set an “underweight” rating on the stock in a report on Wednesday, August 28th. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Friday, August 30th. Finally, Credit Suisse Group raised their price target on Eaton Vance from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Eaton Vance has a consensus rating of “Hold” and a consensus price target of $43.57.
About Eaton Vance
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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