State Treasurer State of Michigan Acquires 800 Shares of Eaton Vance Corporation (EV)

State Treasurer State of Michigan boosted its position in Eaton Vance Corporation (NYSE:EV) by 1.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,400 shares of the asset manager’s stock after buying an additional 800 shares during the period. State Treasurer State of Michigan’s holdings in Eaton Vance Corporation were worth $2,243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EV. BlackRock Inc. boosted its stake in shares of Eaton Vance Corporation by 3,407.1% in the first quarter. BlackRock Inc. now owns 10,878,915 shares of the asset manager’s stock worth $489,118,000 after buying an additional 10,568,715 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Eaton Vance Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 10,398,957 shares of the asset manager’s stock worth $467,537,000 after buying an additional 600,222 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Eaton Vance Corporation by 1.8% in the first quarter. Wells Fargo & Company MN now owns 5,376,044 shares of the asset manager’s stock worth $241,707,000 after buying an additional 95,042 shares in the last quarter. Bank of New York Mellon Corp raised its position in Eaton Vance Corporation by 36.2% in the first quarter. Bank of New York Mellon Corp now owns 2,463,381 shares of the asset manager’s stock worth $110,753,000 after buying an additional 654,761 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Eaton Vance Corporation by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 1,718,318 shares of the asset manager’s stock worth $77,255,000 after buying an additional 14,028 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

Eaton Vance Corporation (NYSE EV) traded up 0.34% on Friday, reaching $47.32. The company had a trading volume of 484,163 shares. The stock has a market capitalization of $5.24 billion, a PE ratio of 20.75 and a beta of 1.84. Eaton Vance Corporation has a 52-week low of $34.44 and a 52-week high of $50.10. The stock has a 50 day moving average price of $48.14 and a 200 day moving average price of $45.82.

Eaton Vance Corporation (NYSE:EV) last posted its earnings results on Wednesday, May 24th. The asset manager reported $0.62 earnings per share for the quarter, beating 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 business had revenue of $374.60 million for the quarter, compared to analyst estimates of $373.28 million. During the same quarter in the previous year, the business posted $0.48 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts expect that Eaton Vance Corporation will post $2.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, July 27th. Eaton Vance Corporation’s dividend payout ratio (DPR) is 49.34%.

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A number of equities analysts have weighed in on the company. BidaskClub lowered Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. J P Morgan Chase & Co restated an “underweight” rating and issued a $47.00 price target (up previously from $40.00) on shares of Eaton Vance Corporation in a research note on Tuesday, June 6th. Zacks Investment Research upgraded Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Thursday, June 8th. Citigroup Inc. lifted their price target on Eaton Vance Corporation from $46.50 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Finally, Bank of America Corporation lifted their price target on Eaton Vance Corporation from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.93.

In related news, Director Winthrop H. Smith, Jr. sold 21,885 shares of Eaton Vance Corporation stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $48.03, for a total transaction of $1,051,136.55. Following the sale, the director now owns 15,420 shares of the company’s stock, valued at approximately $740,622.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy E. Puhy sold 2,563 shares of Eaton Vance Corporation stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $48.46, for a total transaction of $124,202.98. Following the sale, the director now directly owns 14,473 shares in the company, valued at approximately $701,361.58. The disclosure for this sale can be found here. Insiders have sold a total of 127,943 shares of company stock worth $6,149,649 in the last ninety days.

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.

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

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