Shares of Eaton Vance Corp (NYSE:EV) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $39.82 and last traded at $39.49, with a volume of 28709 shares. The stock had previously closed at $41.43.
Several research firms have recently issued reports on EV. Citigroup decreased their price target on Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a research note on Thursday, August 30th. Zacks Investment Research cut Eaton Vance from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Deutsche Bank cut their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, September 27th. ValuEngine cut Eaton Vance from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $48.00 price objective on shares of Eaton Vance in a research report on Monday, November 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.25.
The company has a quick ratio of 8.35, a current ratio of 5.08 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.88 and a beta of 1.64.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Wednesday, October 31st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Tuesday, October 30th. This is a boost from Eaton Vance’s previous quarterly dividend of $0.31. Eaton Vance’s payout ratio is currently 43.61%.
In other Eaton Vance news, Director Brian D. Langstraat sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $47.50, for a total value of $617,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo I. Higdon, Jr. sold 5,943 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $43.97, for a total value of $261,313.71. The disclosure for this sale can be found here. Insiders have sold a total of 149,984 shares of company stock valued at $6,618,100 in the last three months.
A number of institutional investors have recently bought and sold shares of EV. BlackRock Inc. raised its holdings in Eaton Vance by 2.3% in the 2nd quarter. BlackRock Inc. now owns 11,879,833 shares of the asset manager’s stock valued at $620,009,000 after acquiring an additional 270,518 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Eaton Vance by 11.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,145,962 shares of the asset manager’s stock valued at $111,998,000 after acquiring an additional 224,463 shares in the last quarter. Dai Ichi Life Insurance Company Ltd acquired a new position in Eaton Vance in the 2nd quarter valued at approximately $8,813,000. WINTON GROUP Ltd raised its holdings in Eaton Vance by 1,857.6% in the 2nd quarter. WINTON GROUP Ltd now owns 172,251 shares of the asset manager’s stock valued at $8,990,000 after acquiring an additional 163,452 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Eaton Vance in the 2nd quarter valued at approximately $5,621,000. 66.64% of the stock is owned by hedge funds and other institutional investors.
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About Eaton Vance (NYSE:EV)
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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