WBI Investments Inc. Purchases 44,161 Shares of Eaton Vance Corporation (EV)
WBI Investments Inc. grew its position in shares of Eaton Vance Corporation (NYSE:EV) by 343.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,011 shares of the asset manager’s stock after purchasing an additional 44,161 shares during the quarter. WBI Investments Inc.’s holdings in Eaton Vance Corporation were worth $2,698,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in shares of Eaton Vance Corporation during the second quarter valued at about $719,000. Riverhead Capital Management LLC boosted its stake in shares of Eaton Vance Corporation by 53.5% during the second quarter. Riverhead Capital Management LLC now owns 9,055 shares of the asset manager’s stock valued at $429,000 after purchasing an additional 3,155 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Eaton Vance Corporation by 44.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock valued at $199,000 after purchasing an additional 1,296 shares in the last quarter. Financial Counselors Inc. boosted its stake in shares of Eaton Vance Corporation by 0.5% during the second quarter. Financial Counselors Inc. now owns 99,844 shares of the asset manager’s stock valued at $4,725,000 after purchasing an additional 513 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Eaton Vance Corporation by 1.1% during the second quarter. Alliancebernstein L.P. now owns 72,033 shares of the asset manager’s stock valued at $3,409,000 after purchasing an additional 803 shares in the last quarter. 68.91% of the stock is currently owned by hedge funds and other institutional investors.
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A number of analysts have recently commented on the company. BidaskClub lowered Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. J P Morgan Chase & Co reissued an “underweight” rating and set a $47.00 price target (up from $40.00) on shares of Eaton Vance Corporation in a research note on Tuesday, June 6th. Zacks Investment Research raised Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Thursday, June 8th. Bank of America Corporation lifted their price target on Eaton Vance Corporation from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Finally, Citigroup Inc. lifted their price target on Eaton Vance Corporation from $46.50 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, six 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 price target of $50.21.
Eaton Vance Corporation (NYSE EV) opened at 46.975 on Thursday. The company has a 50 day moving average price of $47.50 and a 200-day moving average price of $46.38. Eaton Vance Corporation has a 1-year low of $34.44 and a 1-year high of $50.10. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 20.424 and a beta of 1.85.
Eaton Vance Corporation (NYSE:EV) last announced its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. Eaton Vance Corporation’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. On average, analysts forecast that Eaton Vance Corporation will post $2.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 27th. This represents a $1.12 annualized dividend and a dividend yield of 2.40%. Eaton Vance Corporation’s dividend payout ratio (DPR) is presently 48.70%.
In other news, CEO Matthew J. Witkos sold 24,152 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $47.65, for a total transaction of $1,150,842.80. Following the transaction, the chief executive officer now directly owns 231,477 shares in the company, valued at approximately $11,029,879.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Beale sold 39,343 shares of the stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $48.30, for a total value of $1,900,266.90. Following the transaction, the insider now owns 343,509 shares in the company, valued at $16,591,484.70. The disclosure for this sale can be found here. Insiders have sold a total of 72,410 shares of company stock worth $3,475,018 over the last quarter.
Eaton Vance Corporation 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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