Eaton Vance Corporation (EV) Reaches New 1-Year High at $52.40

Eaton Vance Corporation (NYSE:EV) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $52.40 and last traded at $51.79, with a volume of 445500 shares changing hands. The stock had previously closed at $51.50.

EV has been the topic of a number of research analyst reports. Zacks Investment Research raised Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, November 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $46.00 price target on shares of Eaton Vance Corporation in a report on Thursday, October 26th. BidaskClub downgraded Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Bank of America Corporation upped their price target on Eaton Vance Corporation from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, J P Morgan Chase & Co raised Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price target on the stock in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Eaton Vance Corporation presently has a consensus rating of “Hold” and a consensus price target of $52.06.

The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.74 and a current ratio of 5.74. The company has a market capitalization of $6,071.85, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.00 and a beta of 1.86.

Eaton Vance Corporation (NYSE:EV) last posted its earnings results on Tuesday, November 21st. The asset manager reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The firm had revenue of $405.70 million during the quarter, compared to the consensus estimate of $407.75 million. During the same period in the prior year, the company posted $0.57 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. equities analysts forecast that Eaton Vance Corporation will post 2.46 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were issued a $0.31 dividend. This is an increase from Eaton Vance Corporation’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, October 30th. This represents a $1.24 dividend on an annualized basis and a yield of 2.38%. Eaton Vance Corporation’s dividend payout ratio is currently 53.91%.

In other news, insider Payson F. Swaffield sold 71,739 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $51.81, for a total value of $3,716,797.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frederick S. Marius sold 8,915 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $47.55, for a total value of $423,908.25. Following the completion of the transaction, the insider now directly owns 30,955 shares in the company, valued at approximately $1,471,910.25. The disclosure for this sale can be found here. In the last three months, insiders sold 596,037 shares of company stock worth $29,808,641.

Several hedge funds and other institutional investors have recently bought and sold shares of EV. Janus Henderson Group PLC raised its stake in shares of Eaton Vance Corporation by 13,411.4% in the second quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock worth $73,705,000 after buying an additional 1,546,065 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Eaton Vance Corporation by 33.7% in the third quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock worth $218,311,000 after buying an additional 1,113,748 shares during the period. Junto Capital Management LP bought a new position in shares of Eaton Vance Corporation in the second quarter worth about $33,813,000. Old Mutual Global Investors UK Ltd. raised its stake in shares of Eaton Vance Corporation by 177.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 347,511 shares of the asset manager’s stock worth $16,444,000 after buying an additional 222,268 shares during the period. Finally, Balyasny Asset Management LLC raised its stake in shares of Eaton Vance Corporation by 579.4% in the second quarter. Balyasny Asset Management LLC now owns 239,882 shares of the asset manager’s stock worth $11,351,000 after buying an additional 204,575 shares during the period. 69.49% of the stock is currently owned by hedge funds and other institutional investors.

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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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