Sumitomo Mitsui Asset Management Company LTD maintained its position in shares of Eaton Vance Corporation (NYSE:EV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,004 shares of the asset manager’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Eaton Vance Corporation were worth $378,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Korea Investment CORP acquired a new position in shares of Eaton Vance Corporation during the first quarter valued at approximately $1,245,000. Mn Services Vermogensbeheer B.V. boosted its stake in 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 valued at $127,000 after buying an additional 148 shares during the period. Nationwide Fund Advisors boosted its stake in Eaton Vance Corporation by 20.5% in the first quarter. Nationwide Fund Advisors now owns 514,622 shares of the asset manager’s stock valued at $23,137,000 after buying an additional 87,633 shares during the period. Retirement Systems of Alabama boosted its stake in Eaton Vance Corporation by 1.2% in the first quarter. Retirement Systems of Alabama now owns 148,170 shares of the asset manager’s stock valued at $6,662,000 after buying an additional 1,699 shares during the period. Finally, Boston Advisors LLC boosted its stake in Eaton Vance Corporation by 24.4% in the first quarter. Boston Advisors LLC now owns 385,465 shares of the asset manager’s stock valued at $17,331,000 after buying an additional 75,634 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.
Shares of Eaton Vance Corporation (NYSE:EV) opened at 47.32 on Friday. Eaton Vance Corporation has a one year low of $34.44 and a one year high of $50.10. The company has a 50-day moving average price of $48.14 and a 200 day moving average price of $45.82. The company has a market capitalization of $5.24 billion, a PE ratio of 20.75 and a beta of 1.84.
Eaton Vance Corporation (NYSE:EV) last announced its quarterly earnings results on Wednesday, May 24th. The asset manager reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $374.60 million for the quarter, compared to analysts’ expectations of $373.28 million. Eaton Vance Corporation had a return on equity of 36.63% and a net margin of 18.39%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Equities analysts anticipate that Eaton Vance Corporation will post $2.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a $0.28 dividend. The ex-dividend date is Thursday, July 27th. This represents a $1.12 dividend on an annualized basis and a yield of 2.37%. Eaton Vance Corporation’s dividend payout ratio (DPR) is currently 49.34%.
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Several analysts have recently weighed in on the company. J P Morgan Chase & Co restated an “underweight” rating and set a $47.00 price target (up from $40.00) on shares of Eaton Vance Corporation in a report on Tuesday, June 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price target on shares of Eaton Vance Corporation in a report on Tuesday, May 23rd. Zacks Investment Research cut Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group boosted their price target on Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Citigroup Inc. boosted their price target on Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $49.93.
In other Eaton Vance Corporation news, Director Dorothy E. Puhy sold 2,563 shares of Eaton Vance Corporation stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $48.46, for a total value of $124,202.98. Following the transaction, the director now directly owns 14,473 shares of the company’s stock, valued at approximately $701,361.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Beale sold 39,343 shares of Eaton Vance Corporation stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $48.30, for a total value of $1,900,266.90. Following the completion of the transaction, the insider now directly owns 343,509 shares in the company, valued at $16,591,484.70. The disclosure for this sale can be found here. Insiders sold a total of 127,943 shares of company stock worth $6,149,649 over 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.
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