Eaton Vance Corp. (EV) Shares Gap Up to $37.62
Shares of Eaton Vance Corp. (NYSE:EV) gapped up before the market opened on Friday . The stock had previously closed at $37.35, but opened at $37.62. Eaton Vance Corp. shares last traded at $38.40, with a volume of 335,587 shares.
EV has been the topic of several recent analyst reports. Jefferies Group restated a “hold” rating on shares of Eaton Vance Corp. in a report on Monday, August 1st. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Eaton Vance Corp. in a report on Sunday, May 29th. Zacks Investment Research downgraded Eaton Vance Corp. from a “hold” rating to a “sell” rating in a report on Monday, May 23rd. Finally, Sandler O’Neill upped their target price on Eaton Vance Corp. from $29.00 to $34.00 in a report on Tuesday, April 12th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $36.34.
The company has a 50-day moving average price of $36.42 and a 200-day moving average price of $33.51. The stock has a market cap of $4.24 billion and a PE ratio of 18.45.
Eaton Vance Corp. (NYSE:EV) last posted its quarterly earnings results on Wednesday, May 25th. The company reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The firm earned $323.30 million during the quarter, compared to the consensus estimate of $322.37 million. During the same quarter in the prior year, the business earned $0.58 EPS. Eaton Vance Corp.’s revenue was down 8.1% on a year-over-year basis. Analysts expect that Eaton Vance Corp. will post $2.10 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, July 27th.
In other Eaton Vance Corp. news, Director Winthrop H. Smith, Jr. sold 8,197 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $37.20, for a total transaction of $304,928.40. Following the transaction, the director now owns 17,197 shares in the company, valued at $639,728.40. The sale was disclosed in a document filed with the SEC, which is available through this link.
Several institutional investors have added to or reduced their stakes in the stock. TrimTabs Asset Management LLC acquired a new position in Eaton Vance Corp. during the fourth quarter valued at $2,008,000. Marshall Wace LLP boosted its position in Eaton Vance Corp. by 35.9% in the fourth quarter. Marshall Wace LLP now owns 54,105 shares of the company’s stock valued at $1,755,000 after buying an additional 14,305 shares during the period. Schroder Investment Management Group boosted its position in Eaton Vance Corp. by 394.1% in the fourth quarter. Schroder Investment Management Group now owns 539,853 shares of the company’s stock valued at $17,507,000 after buying an additional 430,594 shares during the period. Principal Financial Group Inc. boosted its position in Eaton Vance Corp. by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 375,880 shares of the company’s stock valued at $12,190,000 after buying an additional 10,273 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Eaton Vance Corp. by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,069 shares of the company’s stock valued at $1,105,000 after buying an additional 146 shares during the period.
Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels.
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