Stratos Wealth Partners LTD. Has $240,000 Stake in Eaton Vance Corporation (EV)
Stratos Wealth Partners LTD. boosted its position in Eaton Vance Corporation (NYSE:EV) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 5,081 shares of the asset manager’s stock after buying an additional 49 shares during the period. Stratos Wealth Partners LTD.’s holdings in Eaton Vance Corporation were worth $240,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of The West boosted its stake in Eaton Vance Corporation by 0.6% in the second quarter. Bank of The West now owns 7,804 shares of the asset manager’s stock worth $369,000 after buying an additional 50 shares during the period. Envestnet Asset Management Inc. boosted its stake in Eaton Vance Corporation by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 25,708 shares of the asset manager’s stock worth $1,157,000 after buying an additional 114 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake 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 worth $127,000 after buying an additional 148 shares during the period. Creative Planning boosted its stake in Eaton Vance Corporation by 3.3% in the second quarter. Creative Planning now owns 5,098 shares of the asset manager’s stock worth $241,000 after buying an additional 163 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in Eaton Vance Corporation by 1.9% in the second quarter. Capstone Asset Management Co. now owns 10,975 shares of the asset manager’s stock worth $519,000 after buying an additional 200 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.
Eaton Vance Corporation (NYSE EV) opened at 47.16 on Friday. The firm has a market cap of $5.22 billion, a PE ratio of 20.68 and a beta of 1.84. Eaton Vance Corporation has a 1-year low of $34.44 and a 1-year high of $50.10. The firm’s 50-day moving average is $48.15 and its 200 day moving average is $45.79.
Eaton Vance Corporation (NYSE:EV) last released its quarterly earnings results on Wednesday, May 24th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Eaton Vance Corporation had a return on equity of 36.63% and a net margin of 18.39%. The business had revenue of $374.60 million during the quarter, compared to analysts’ expectations of $373.28 million. During the same period in the previous year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities analysts forecast that Eaton Vance Corporation will post $2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.28 dividend. The ex-dividend date is Thursday, July 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.37%. Eaton Vance Corporation’s dividend payout ratio is 49.34%.
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A number of research firms recently weighed in on EV. Zacks Investment Research cut shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. J P Morgan Chase & Co reaffirmed an “underweight” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Eaton Vance Corporation in a report on Tuesday, June 6th. BidaskClub cut shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Eaton Vance Corporation in a report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Eaton Vance Corporation in a report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $48.07.
In related news, insider Jeffrey P. Beale sold 39,343 shares of Eaton Vance Corporation stock in a transaction dated 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 completion of the transaction, the insider now directly owns 343,509 shares of the company’s stock, valued at $16,591,484.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Winthrop H. Smith, Jr. sold 21,885 shares of Eaton Vance Corporation stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $48.03, for a total value of $1,051,136.55. Following the completion of the transaction, the director now directly owns 15,420 shares of the company’s stock, valued at $740,622.60. The disclosure for this sale can be found here. Insiders sold 127,943 shares of company stock valued at $6,149,649 over the last ninety days.
About Eaton Vance Corporation
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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