Vident Investment Advisory LLC Takes Position in Eaton Vance Corp (EV)

Vident Investment Advisory LLC purchased a new stake in shares of Eaton Vance Corp (NYSE:EV) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,446 shares of the asset manager’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Capital Management Holdings LLC. purchased a new stake in Eaton Vance in the third quarter worth $2,163,000. Maltese Capital Management LLC purchased a new stake in Eaton Vance in the third quarter worth $987,000. Asset Management One Co. Ltd. increased its position in Eaton Vance by 2.2% in the third quarter. Asset Management One Co. Ltd. now owns 206,723 shares of the asset manager’s stock worth $10,208,000 after buying an additional 4,528 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Eaton Vance by 20.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 91,871 shares of the asset manager’s stock worth $4,536,000 after buying an additional 15,515 shares during the last quarter. Finally, Financial Counselors Inc. increased its position in Eaton Vance by 1.3% in the third quarter. Financial Counselors Inc. now owns 101,100 shares of the asset manager’s stock worth $4,991,000 after buying an additional 1,256 shares during the last quarter. 68.73% of the stock is owned by institutional investors.

Eaton Vance Corp (EV) opened at $57.04 on Thursday. Eaton Vance Corp has a twelve month low of $41.40 and a twelve month high of $57.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.85 and a quick ratio of 5.74. The company has a market capitalization of $6,739.89, a price-to-earnings ratio of 23.11, a PEG ratio of 0.95 and a beta of 1.89.

Eaton Vance (NYSE:EV) last posted its quarterly earnings data on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The business had revenue of $405.70 million for the quarter, compared to the consensus estimate of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. Eaton Vance’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. research analysts anticipate that Eaton Vance Corp will post 2.99 EPS for the current fiscal year.

In related news, CEO Matthew J. Witkos sold 82,617 shares of Eaton Vance stock in a transaction on Friday, October 13th. The stock was sold at an average price of $51.27, for a total transaction of $4,235,773.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas E. Faust, Jr. sold 73,982 shares of Eaton Vance stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $48.20, for a total value of $3,565,932.40. Following the sale, the chief executive officer now directly owns 2,697,576 shares of the company’s stock, valued at approximately $130,023,163.20. The disclosure for this sale can be found here. Insiders have sold 559,833 shares of company stock valued at $28,073,360 in the last three months.

A number of research firms have recently commented on EV. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, November 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $53.00 price target on shares of Eaton Vance in a report on Friday, November 10th. Jefferies Group reaffirmed a “hold” rating and issued a $46.00 price target on shares of Eaton Vance in a report on Thursday, October 26th. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Finally, Bank of America raised their price target on Eaton Vance from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $52.06.

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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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Institutional Ownership by Quarter for Eaton Vance (NYSE:EV)

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