Shares of Eaton Vance Corporation (NYSE:EV) have earned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $49.58.
A number of analysts have recently weighed in on the stock. Credit Suisse Group increased their target price 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. Zacks Investment Research downgraded shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reissued a “hold” rating and issued a $45.00 price target on shares of Eaton Vance Corporation in a research note on Wednesday, June 28th. BidaskClub downgraded shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, 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 target for the company in a research note on Thursday, August 24th.
Eaton Vance Corporation (NYSE EV) traded up 0.28% on Wednesday, hitting $50.05. The stock had a trading volume of 625,719 shares. The stock’s 50-day moving average is $47.69 and its 200-day moving average is $46.64. The company has a market cap of $5.61 billion, a P/E ratio of 21.76 and a beta of 1.84. Eaton Vance Corporation has a 52-week low of $34.44 and a 52-week high of $50.40.
Eaton Vance Corporation (NYSE:EV) last posted its earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.05). The firm had revenue of $393.70 million for the quarter, compared to analysts’ expectations of $398.74 million. Eaton Vance Corporation had a return on equity of 34.47% and a net margin of 18.03%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 earnings per share. Analysts expect that Eaton Vance Corporation will post $2.46 earnings per share for the current year.
In related news, insider Frederick S. Marius sold 8,915 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $47.55, for a total transaction of $423,908.25. Following the completion of the sale, the insider now owns 30,955 shares of the company’s stock, valued at $1,471,910.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas E. Faust, Jr. sold 73,982 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $48.20, for a total transaction of $3,565,932.40. Following the sale, the chief executive officer now directly owns 2,697,576 shares of the company’s stock, valued at approximately $130,023,163.20. The disclosure for this sale can be found here. Insiders have sold 357,246 shares of company stock valued at $17,439,425 in the last ninety days.
Several institutional investors and hedge funds have recently made changes to their positions in EV. WFG Advisors LP boosted its holdings in Eaton Vance Corporation by 0.6% in the second quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after purchasing an additional 14 shares during the last quarter. Nordea Investment Management AB boosted its holdings in 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 purchasing an additional 1,900 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in Eaton Vance Corporation in the second quarter worth approximately $166,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in 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 purchasing an additional 1,400 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in 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 purchasing an additional 1,296 shares during the last quarter. 68.91% of the stock is owned by institutional investors.
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About Eaton Vance Corporation
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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