Russell Investments Group Ltd. Acquires 7,595 Shares of Eaton Vance Corp (EV)

Russell Investments Group Ltd. lifted its holdings in Eaton Vance Corp (NYSE:EV) by 25.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,283 shares of the asset manager’s stock after purchasing an additional 7,595 shares during the quarter. Russell Investments Group Ltd.’s holdings in Eaton Vance were worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EV. Schwab Charles Investment Management Inc. boosted its stake in Eaton Vance by 5.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 676,233 shares of the asset manager’s stock worth $32,000,000 after buying an additional 33,325 shares during the period. Legal & General Group Plc boosted its stake in Eaton Vance by 12.9% during the second quarter. Legal & General Group Plc now owns 210,367 shares of the asset manager’s stock worth $9,956,000 after buying an additional 24,112 shares during the period. Comerica Bank boosted its stake in Eaton Vance by 0.9% during the second quarter. Comerica Bank now owns 89,567 shares of the asset manager’s stock worth $4,394,000 after buying an additional 761 shares during the period. Blair William & Co. IL purchased a new position in Eaton Vance during the second quarter worth $222,000. Finally, Marshall Wace North America L.P. purchased a new position in Eaton Vance during the second quarter worth $2,350,000. 68.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Eaton Vance Corp (NYSE EV) opened at $56.43 on Friday. The stock has a market cap of $6,550.00, a price-to-earnings ratio of 23.32, a PEG ratio of 0.94 and a beta of 1.89. Eaton Vance Corp has a one year low of $41.40 and a one year high of $57.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.74 and a current ratio of 5.44.

Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). The company had revenue of $405.70 million for the quarter, compared to analysts’ expectations of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. sell-side analysts predict that Eaton Vance Corp will post 2.99 EPS for the current fiscal year.

Several research analysts have commented on EV shares. Jefferies Group reaffirmed a “hold” rating and set a $46.00 price objective on shares of Eaton Vance in a research note on Thursday, October 26th. Bank of America boosted their target price on shares of Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. ValuEngine raised shares of Eaton Vance from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Zacks Investment Research raised shares of Eaton Vance from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Deutsche Bank initiated coverage on shares of Eaton Vance in a research note on Tuesday, October 17th. They set a “buy” rating and a $57.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $52.06.

In related news, CEO Matthew J. Witkos sold 82,617 shares of Eaton Vance stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $51.27, for a total value of $4,235,773.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dorothy E. Puhy sold 5,953 shares of Eaton Vance stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $51.08, for a total value of $304,079.24. The disclosure for this sale can be found here. Insiders sold 485,851 shares of company stock valued at $24,507,427 over the last 90 days.

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Eaton Vance 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 (NYSE:EV)

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