Welch & Forbes LLC lowered its position in Eaton Vance Corp (NYSE:EV) by 2.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,114 shares of the asset manager’s stock after selling 396 shares during the period. Welch & Forbes LLC’s holdings in Eaton Vance were worth $567,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in EV. Intercontinental Wealth Advisors LLC purchased a new stake in Eaton Vance in the 4th quarter worth approximately $25,000. Essex Savings Bank acquired a new position in shares of Eaton Vance during the 4th quarter worth approximately $25,000. Rockland Trust Co. acquired a new position in shares of Eaton Vance during the 4th quarter worth approximately $70,000. Ledyard National Bank raised its stake in shares of Eaton Vance by 266.4% during the 4th quarter. Ledyard National Bank now owns 2,400 shares of the asset manager’s stock worth $84,000 after buying an additional 1,745 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in shares of Eaton Vance during the 4th quarter worth approximately $89,000. Institutional investors and hedge funds own 69.76% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, February 6th. ValuEngine raised Eaton Vance from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Credit Suisse Group reduced their target price on Eaton Vance from $51.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, January 14th. Deutsche Bank downgraded Eaton Vance from a “buy” rating to a “hold” rating and reduced their target price for the stock from $57.00 to $39.00 in a research note on Thursday, January 10th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $39.00 price objective on shares of Eaton Vance in a research note on Wednesday, January 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $43.00.
Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, November 27th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The company had revenue of $435.97 million during the quarter, compared to analysts’ expectations of $435.02 million. Eaton Vance had a return on equity of 35.94% and a net margin of 22.44%. As a group, sell-side analysts predict that Eaton Vance Corp will post 3.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, January 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, January 30th. Eaton Vance’s payout ratio is currently 43.61%.
In related news, Director Winthrop H. Smith, Jr. bought 10,000 shares of the company’s stock in a transaction on Tuesday, December 18th. The stock was bought at an average cost of $34.89 per share, for a total transaction of $348,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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Eaton Vance Profile
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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