Eaton Vance Corporation (EV) Director Sells $330,069.20 in Stock
Eaton Vance Corporation (NYSE:EV) Director Leo I. Higdon, Jr. sold 6,865 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $48.08, for a total transaction of $330,069.20. Following the sale, the director now owns 11,626 shares in the company, valued at $558,978.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Eaton Vance Corporation (EV) traded down 0.713% during midday trading on Thursday, hitting $48.025. 134,966 shares of the company traded hands. The stock has a 50 day moving average of $47.26 and a 200 day moving average of $46.38. The stock has a market cap of $5.38 billion, a P/E ratio of 20.880 and a beta of 1.85. 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 announced its earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The firm had revenue of $393.70 million for the quarter, compared to the consensus estimate of $398.74 million. During the same period in the prior year, the business earned $0.56 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts predict that Eaton Vance Corporation will post $2.46 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Eaton Vance Corporation by 3,407.1% during the first quarter. BlackRock Inc. now owns 10,878,915 shares of the asset manager’s stock valued at $489,118,000 after buying an additional 10,568,715 shares in the last quarter. Vanguard Group Inc. boosted its stake in Eaton Vance Corporation by 1.2% during the second quarter. Vanguard Group Inc. now owns 10,523,293 shares of the asset manager’s stock valued at $497,962,000 after buying an additional 124,336 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Eaton Vance Corporation by 2.1% during the second quarter. Wells Fargo & Company MN now owns 5,490,011 shares of the asset manager’s stock valued at $259,787,000 after buying an additional 113,967 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Eaton Vance Corporation by 34.3% during the second quarter. Bank of New York Mellon Corp now owns 3,308,194 shares of the asset manager’s stock valued at $156,544,000 after buying an additional 844,813 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Eaton Vance Corporation by 0.3% during the second quarter. JPMorgan Chase & Co. now owns 1,722,856 shares of the asset manager’s stock valued at $81,525,000 after buying an additional 4,538 shares in the last quarter. 68.91% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on EV. BidaskClub lowered shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. J P Morgan Chase & Co restated an “underweight” rating and set a $47.00 target price (up from $40.00) on shares of Eaton Vance Corporation in a research report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Thursday, June 8th. Citigroup Inc. boosted their target price on shares of Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. Finally, Bank of America Corporation boosted their target price on shares of Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Eaton Vance Corporation has a consensus rating of “Hold” and a consensus target price of $50.21.
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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