Jefferies Financial Group reiterated their hold rating on shares of Eaton Vance (NYSE:EV) in a report issued on Tuesday. They currently have a $42.00 price target on the asset manager’s stock. Jefferies Financial Group also issued estimates for Eaton Vance’s Q1 2019 earnings at $0.80 EPS and Q2 2019 earnings at $0.80 EPS.
A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Eaton Vance from a neutral rating to an underweight rating and set a $38.00 price target for the company. in a research report on Wednesday, November 28th. Keefe, Bruyette & Woods restated a hold rating and set a $48.00 price objective on shares of Eaton Vance in a research report on Monday, November 19th. Citigroup downgraded shares of Eaton Vance from a buy rating to a neutral rating and lowered their price objective for the company from $60.50 to $47.00 in a research report on Monday, November 19th. Zacks Investment Research restated a sell rating on shares of Eaton Vance in a research report on Tuesday, November 13th. Finally, ValuEngine downgraded shares of Eaton Vance from a hold rating to a sell rating in a research report on Wednesday, October 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $52.25.
NYSE EV opened at $36.82 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 5.08 and a quick ratio of 8.35. Eaton Vance has a 1-year low of $36.73 and a 1-year high of $60.95. The company has a market capitalization of $4.49 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were given a dividend of $0.35 per share. This is an increase from Eaton Vance’s previous quarterly dividend of $0.31. This represents a $1.40 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Tuesday, October 30th. Eaton Vance’s payout ratio is currently 43.61%.
In other news, CEO Thomas E. Faust, Jr. sold 33,407 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $45.50, for a total transaction of $1,520,018.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas E. Faust, Jr. sold 43,500 shares of the company’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $43.01, for a total transaction of $1,870,935.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,984 shares of company stock valued at $6,618,100.
Several large investors have recently made changes to their positions in EV. Cerebellum GP LLC increased its holdings in shares of Eaton Vance by 525.0% during the third quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock worth $175,000 after buying an additional 2,793 shares in the last quarter. Korea Investment CORP acquired a new position in shares of Eaton Vance during the second quarter worth $193,000. Daiwa SB Investments Ltd. acquired a new position in shares of Eaton Vance during the third quarter worth $200,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Eaton Vance during the second quarter worth $227,000. Finally, Gideon Capital Advisors Inc. acquired a new position in shares of Eaton Vance during the second quarter worth $232,000. Institutional investors own 66.64% of the company’s stock.
About Eaton Vance
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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