Eaton Vance Corporation (EV) Holdings Boosted by State of Tennessee Treasury Department
State of Tennessee Treasury Department raised its position in Eaton Vance Corporation (NYSE:EV) by 160.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,000 shares of the asset manager’s stock after buying an additional 80,000 shares during the quarter. State of Tennessee Treasury Department owned about 0.12% of Eaton Vance Corporation worth $6,418,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Eaton Vance Corporation by 437.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 1,653 shares during the last quarter. WFG Advisors LP grew its holdings in shares of Eaton Vance Corporation by 0.6% during the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 14 shares during the last quarter. Pacad Investment Ltd. bought a new stake in shares of Eaton Vance Corporation during the 2nd quarter valued at approximately $166,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Eaton Vance Corporation by 44.7% during the 2nd 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 during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Eaton Vance Corporation during the 2nd quarter worth approximately $203,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eaton Vance Corporation (EV) opened at $50.96 on Monday. The company has a market cap of $5,919.67, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 0.98 and a beta of 1.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.74 and a current ratio of 5.74. Eaton Vance Corporation has a one year low of $37.72 and a one year high of $52.36.
Eaton Vance Corporation (NYSE:EV) last announced its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.05). The business 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%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS. equities research analysts forecast that Eaton Vance Corporation will post 2.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change from Eaton Vance Corporation’s previous quarterly dividend of $0.28. Eaton Vance Corporation’s payout ratio is 53.91%.
In related news, insider Payson F. Swaffield sold 71,739 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $51.81, for a total transaction of $3,716,797.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann E. Berman sold 6,865 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $48.88, for a total transaction of $335,561.20. Following the transaction, the director now owns 6,865 shares of the company’s stock, valued at approximately $335,561.20. The disclosure for this sale can be found here. Insiders have sold a total of 596,037 shares of company stock valued at $29,808,641 in the last 90 days.
A number of equities research analysts have weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and set a $46.00 target price on shares of Eaton Vance Corporation in a report on Friday, August 18th. Zacks Investment Research lowered shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub lowered shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $53.00 price target on shares of Eaton Vance Corporation in a research report on Friday. Finally, Bank of America Corporation boosted their price target on shares of Eaton Vance Corporation from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Eaton Vance Corporation has a consensus rating of “Hold” and an average target price of $52.06.
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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