Eaton Vance Corporation (EV) Stake Boosted by State Treasurer State of Michigan

State Treasurer State of Michigan increased its position in shares of Eaton Vance Corporation (NYSE:EV) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC bought a new position in Eaton Vance Corporation during the fourth quarter worth approximately $7,152,000. Teachers Advisors LLC raised its position in Eaton Vance Corporation by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 145,659 shares of the asset manager’s stock worth $6,100,000 after buying an additional 2,732 shares in the last quarter. CENTRAL TRUST Co raised its position in Eaton Vance Corporation by 6,356.9% in the first quarter. CENTRAL TRUST Co now owns 3,293 shares of the asset manager’s stock worth $148,000 after buying an additional 3,242 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Eaton Vance Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 35,686 shares of the asset manager’s stock worth $1,604,000 after buying an additional 400 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Eaton Vance Corporation by 1.0% in the first quarter. Bank of Montreal Can now owns 70,842 shares of the asset manager’s stock worth $3,185,000 after buying an additional 703 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Eaton Vance Corporation (NYSE:EV) traded up 0.26% during trading on Friday, reaching $46.76. 477,061 shares of the company’s stock traded hands. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $50.10. The company has a market cap of $5.18 billion, a P/E ratio of 20.50 and a beta of 1.84. The firm’s 50 day moving average is $48.18 and its 200 day moving average is $45.98.

Eaton Vance Corporation (NYSE:EV) last announced its earnings results on Wednesday, May 24th. The asset manager reported $0.62 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $373.28 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Analysts anticipate that Eaton Vance Corporation will post $2.55 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, July 27th. Eaton Vance Corporation’s dividend payout ratio is currently 49.34%.

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Several research analysts have issued reports on EV shares. Zacks Investment Research lowered shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Jefferies Group LLC lifted their price target on shares of Eaton Vance Corporation from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, May 22nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $50.00 price target on shares of Eaton Vance Corporation in a research report on Tuesday, May 23rd. Bank of America Corporation lifted their price target on shares of Eaton Vance Corporation from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. lifted their price target on shares of Eaton Vance Corporation from $46.50 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.07.

In other news, insider Jeffrey P. Beale sold 39,343 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $48.30, for a total transaction of $1,900,266.90. Following the completion of the sale, the insider now owns 343,509 shares in the company, valued at approximately $16,591,484.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Winthrop H. Smith, Jr. sold 21,885 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,943 shares of company stock valued at $6,149,649.

Eaton Vance Corporation Company Profile

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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