United Services Automobile Association cut its position in shares of Eaton Vance Corporation (NYSE:EV) by 80.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,869 shares of the asset manager’s stock after selling 33,150 shares during the period. United Services Automobile Association’s holdings in Eaton Vance Corporation were worth $354,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. TrimTabs Asset Management LLC increased its stake in shares of Eaton Vance Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager’s stock worth $122,000 after buying an additional 1,272 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Eaton Vance Corporation by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager’s stock worth $127,000 after buying an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Eaton Vance Corporation by 20.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager’s stock worth $130,000 after buying an additional 501 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Eaton Vance Corporation by 6,356.9% in the first quarter. CENTRAL TRUST Co now owns 3,293 shares of the asset manager’s stock worth $148,000 after buying an additional 3,242 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Eaton Vance Corporation by 131.9% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock worth $150,000 after buying an additional 1,900 shares in the last quarter. Institutional investors own 71.15% of the company’s stock.
Eaton Vance Corporation (NYSE:EV) opened at 48.66 on Friday. Eaton Vance Corporation has a 1-year low of $34.44 and a 1-year high of $49.40. The stock has a market capitalization of $5.39 billion, a PE ratio of 21.33 and a beta of 1.84. The company’s 50 day moving average is $47.99 and its 200-day moving average is $45.22.
Eaton Vance Corporation (NYSE:EV) last released its quarterly earnings data on Wednesday, May 24th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Eaton Vance Corporation had a net margin of 18.39% and a return on equity of 36.63%. The firm had revenue of $374.60 million during the quarter, compared to analysts’ expectations of $373.28 million. During the same period last year, the business earned $0.48 earnings per share. Eaton Vance Corporation’s revenue was up 15.9% compared to the same quarter last year. Analysts forecast that Eaton Vance Corporation will post $2.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, July 27th. Eaton Vance Corporation’s payout ratio is currently 49.34%.
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A number of research firms have recently weighed in on EV. 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 report on Thursday, June 8th. Citigroup Inc. upgraded shares of Eaton Vance Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $54.50 in a report on Monday, June 5th. Jefferies Group LLC restated a “hold” rating and issued a $45.00 target price on shares of Eaton Vance Corporation in a report on Wednesday, June 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $50.00 target price on shares of Eaton Vance Corporation in a report on Tuesday, May 23rd. 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 report on Thursday, May 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $48.07.
In related news, Director Dorothy E. Puhy sold 2,563 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $48.46, for a total transaction of $124,202.98. Following the completion of the sale, the director now directly owns 14,473 shares in the company, valued at $701,361.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew J. Witkos sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $48.08, for a total transaction of $1,923,200.00. Following the sale, the chief executive officer now owns 243,688 shares of the company’s stock, valued at $11,716,519.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,943 shares of company stock valued at $6,149,649.
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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