Mutual of America Capital Management LLC Has $5.29 Million Stake in Eaton Vance Corp (EV)
Mutual of America Capital Management LLC reduced its stake in shares of Eaton Vance Corp (NYSE:EV) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,667 shares of the asset manager’s stock after selling 1,316 shares during the period. Mutual of America Capital Management LLC owned 0.09% of Eaton Vance worth $5,291,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Zebra Capital Management LLC lifted its holdings in Eaton Vance by 107.1% in the 2nd quarter. Zebra Capital Management LLC now owns 19,920 shares of the asset manager’s stock worth $1,040,000 after purchasing an additional 10,303 shares in the last quarter. Korea Investment CORP purchased a new position in Eaton Vance in the 2nd quarter worth approximately $193,000. Schwab Charles Investment Management Inc. lifted its holdings in Eaton Vance by 5.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 910,937 shares of the asset manager’s stock worth $47,542,000 after purchasing an additional 43,271 shares in the last quarter. Laurion Capital Management LP purchased a new position in Eaton Vance in the 2nd quarter worth approximately $236,000. Finally, BlackRock Inc. lifted its holdings in Eaton Vance by 0.7% in the 3rd quarter. BlackRock Inc. now owns 11,960,586 shares of the asset manager’s stock worth $628,648,000 after purchasing an additional 80,753 shares in the last quarter. 66.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on EV shares. ValuEngine downgraded Eaton Vance from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Deutsche Bank reduced their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 27th. Citigroup downgraded Eaton Vance from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $60.50 to $47.00 in a research note on Monday, November 19th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Eaton Vance in a research note on Monday, November 19th. Finally, JPMorgan Chase & Co. downgraded Eaton Vance from a “neutral” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a research note on Wednesday, November 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.25.
Eaton Vance (NYSE:EV) last released its earnings results on Tuesday, November 27th. The asset manager reported $0.85 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The firm had revenue of $435.97 million for the quarter, compared to the consensus estimate of $435.02 million. Eaton Vance had a return on equity of 35.94% and a net margin of 22.44%. On average, equities analysts expect that Eaton Vance Corp will post 3.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.80%. This is an increase from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s payout ratio is currently 43.61%.
In other news, Director Brian D. Langstraat sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $47.50, for a total transaction of $617,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leo I. Higdon, Jr. sold 5,943 shares of the business’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $43.97, for a total value of $261,313.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,984 shares of company stock worth $6,618,100.
Eaton Vance Profile
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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