First Hawaiian Bank Purchases New Position in Eaton Vance Corp (EV)

First Hawaiian Bank purchased a new stake in Eaton Vance Corp (NYSE:EV) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 5,520 shares of the asset manager’s stock, valued at approximately $290,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. lifted its holdings in Eaton Vance by 44.3% in the 2nd quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 1,075 shares in the last quarter. DNB Asset Management AS lifted its holdings in Eaton Vance by 11.2% in the 3rd quarter. DNB Asset Management AS now owns 11,939 shares of the asset manager’s stock valued at $628,000 after purchasing an additional 1,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Eaton Vance by 11.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,116 shares of the asset manager’s stock valued at $685,000 after purchasing an additional 1,343 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in Eaton Vance by 34.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,981 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 1,530 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Eaton Vance by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 82,758 shares of the asset manager’s stock valued at $4,319,000 after purchasing an additional 1,554 shares in the last quarter. 68.38% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on EV shares. Zacks Investment Research upgraded Eaton Vance from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Citigroup decreased their price objective on Eaton Vance from $62.00 to $60.50 and set a “buy” rating on the stock in a report on Thursday, August 30th. Deutsche Bank reduced their price target on Eaton Vance from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 27th. Finally, ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $60.07.

In related news, CEO Thomas E. Faust, Jr. sold 43,500 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $43.01, for a total value of $1,870,935.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian D. Langstraat sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $47.50, for a total transaction of $617,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,850 shares of company stock worth $4,269,767.

NYSE EV opened at $42.82 on Tuesday. Eaton Vance Corp has a 52 week low of $42.16 and a 52 week high of $60.95. The company has a debt-to-equity ratio of 1.14, a quick ratio of 8.35 and a current ratio of 8.35. The firm has a market cap of $5.04 billion, a PE ratio of 17.52, a P/E/G ratio of 0.72 and a beta of 1.63.

Eaton Vance (NYSE:EV) last posted its quarterly earnings results on Wednesday, August 29th. The asset manager reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The business had revenue of $430.60 million for the quarter, compared to analyst estimates of $430.11 million. During the same quarter in the previous year, the firm earned $0.62 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Eaton Vance Corp will post 3.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, October 30th. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s payout ratio is currently 50.00%.

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

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