Eaton Vance Corp (NYSE:EV) – Research analysts at Jefferies Group boosted their Q4 2018 EPS estimates for Eaton Vance in a research note issued to investors on Wednesday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings of $0.93 per share for the quarter, up from their prior estimate of $0.76. Jefferies Group currently has a “Hold” rating and a $46.00 target price on the stock.
A number of other analysts also recently weighed in on EV. ValuEngine upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Deutsche Bank began coverage on shares of Eaton Vance in a research report on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price target on the stock. Bank of America increased their price target on shares of Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Eaton Vance from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $53.00 price target on shares of Eaton Vance in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $52.06.
Eaton Vance (NYSE:EV) last announced its quarterly earnings results on Tuesday, November 21st. The asset manager reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The firm had revenue of $405.70 million during the quarter, compared to analyst estimates of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The business’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.24 annualized dividend and a yield of 2.05%. Eaton Vance’s dividend payout ratio (DPR) is currently 51.24%.
In other Eaton Vance news, CEO Thomas E. Faust, Jr. sold 72,314 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $51.05, for a total transaction of $3,691,629.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dorothy E. Puhy sold 5,953 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $51.08, for a total transaction of $304,079.24. The disclosure for this sale can be found here. Insiders have sold a total of 174,146 shares of company stock worth $8,952,337 over the last 90 days.
A number of hedge funds have recently made changes to their positions in EV. Janus Henderson Group PLC raised its holdings in Eaton Vance by 13,411.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock worth $73,705,000 after buying an additional 1,546,065 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Eaton Vance by 33.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock worth $218,311,000 after acquiring an additional 1,113,748 shares in the last quarter. Junto Capital Management LP bought a new position in shares of Eaton Vance during the 2nd quarter worth approximately $33,813,000. Balyasny Asset Management LLC grew its stake in shares of Eaton Vance by 579.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 239,882 shares of the asset manager’s stock worth $11,351,000 after acquiring an additional 204,575 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in shares of Eaton Vance by 46.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 509,947 shares of the asset manager’s stock worth $25,176,000 after acquiring an additional 162,436 shares in the last quarter. Hedge funds and other institutional investors own 68.73% of the company’s stock.
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Eaton Vance 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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