Goldman Sachs Group Inc. decreased its holdings in Eaton Vance Corporation (NYSE:EV) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 590,764 shares of the asset manager’s stock after selling 13,101 shares during the quarter. Goldman Sachs Group Inc. owned 0.53% of Eaton Vance Corporation worth $27,955,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in shares of Eaton Vance Corporation by 131.9% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock worth $150,000 after buying an additional 1,900 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of Eaton Vance Corporation in the second quarter worth approximately $166,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Eaton Vance Corporation by 53.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock worth $180,000 after buying an additional 1,400 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Eaton Vance Corporation by 44.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock worth $199,000 after buying an additional 1,296 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Eaton Vance Corporation in the second quarter worth approximately $203,000. 68.91% of the stock is currently owned by institutional investors.
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A number of research firms recently issued reports on EV. Zacks Investment Research downgraded shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Credit Suisse Group raised their price objective on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 11th. J P Morgan Chase & Co raised shares of Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price objective on the stock in a report on Thursday, August 24th. BidaskClub downgraded shares of Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $46.00 price objective on shares of Eaton Vance Corporation in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.58.
Eaton Vance Corporation (NYSE:EV) opened at 50.34 on Thursday. The stock has a market cap of $5.64 billion, a P/E ratio of 21.89 and a beta of 1.84. The firm’s 50-day moving average is $47.98 and its 200 day moving average is $46.77. Eaton Vance Corporation has a one year low of $34.44 and a one year high of $50.66.
Eaton Vance Corporation (NYSE:EV) last issued its quarterly earnings data on Wednesday, August 23rd. The asset manager reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $393.70 million for the quarter, compared to analyst estimates of $398.74 million. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. Eaton Vance Corporation’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. On average, analysts anticipate that Eaton Vance Corporation will post $2.47 EPS for the current fiscal year.
In other news, CEO Thomas E. Faust, Jr. sold 57,832 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $49.67, for a total transaction of $2,872,515.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dorothy E. Puhy sold 6,495 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $49.38, for a total transaction of $320,723.10. Following the sale, the director now directly owns 18,775 shares in the company, valued at approximately $927,109.50. The disclosure for this sale can be found here. Insiders have sold a total of 317,903 shares of company stock worth $15,539,158 in the last ninety days.
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.
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