Sei Investments Co. Has $1.83 Million Position in Eaton Vance Corporation (EV)
Sei Investments Co. cut its holdings in Eaton Vance Corporation (NYSE:EV) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,032 shares of the asset manager’s stock after selling 3,145 shares during the quarter. Sei Investments Co.’s holdings in Eaton Vance were worth $1,828,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in EV. Janus Henderson Group PLC raised its holdings in Eaton Vance by 13,411.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock worth $73,705,000 after purchasing an additional 1,546,065 shares during the period. Bank of New York Mellon Corp raised its holdings in Eaton Vance by 34.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,308,194 shares of the asset manager’s stock worth $156,544,000 after purchasing an additional 844,813 shares during the period. Junto Capital Management LP bought a new position in Eaton Vance in the 2nd quarter worth $33,813,000. Old Mutual Global Investors UK Ltd. raised its holdings in Eaton Vance by 177.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 347,511 shares of the asset manager’s stock worth $16,444,000 after purchasing an additional 222,268 shares during the period. Finally, Balyasny Asset Management LLC raised its holdings in Eaton Vance by 579.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 239,882 shares of the asset manager’s stock worth $11,351,000 after purchasing an additional 204,575 shares during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of Eaton Vance Corporation (NYSE EV) traded up $0.99 during trading on Tuesday, hitting $56.48. The stock had a trading volume of 709,600 shares, compared to its average volume of 615,101. The stock has a market capitalization of $6,590.00, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.00 and a beta of 1.89. Eaton Vance Corporation has a 52-week low of $40.45 and a 52-week high of $56.74. The company has a current ratio of 1.85, a quick ratio of 5.74 and a debt-to-equity ratio of 0.01.
Eaton Vance (NYSE:EV) last released its quarterly earnings results on Tuesday, November 21st. The asset manager reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The company had revenue of $405.70 million during the quarter, compared to analysts’ expectations of $407.75 million. Eaton Vance had a return on equity of 33.45% and a net margin of 18.45%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. sell-side analysts forecast that Eaton Vance Corporation will post 2.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.24 annualized dividend and a yield of 2.20%. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.28. Eaton Vance’s dividend payout ratio (DPR) is currently 51.24%.
EV has been the subject of a number of analyst reports. Jefferies Group reiterated a “hold” rating and issued a $46.00 price target on shares of Eaton Vance in a research note on Thursday, October 26th. Bank of America increased their price target on Eaton Vance from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. ValuEngine upgraded Eaton Vance from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded Eaton Vance from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Deutsche Bank initiated coverage on Eaton Vance in a research note on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.06.
In other Eaton Vance news, insider Frederick S. Marius sold 7,574 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $47.99, for a total value of $363,476.26. Following the completion of the sale, the insider now owns 26,128 shares of the company’s stock, valued at $1,253,882.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dorothy E. Puhy sold 5,953 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $51.08, for a total transaction of $304,079.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 587,122 shares of company stock valued at $29,384,733.
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About Eaton Vance
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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