According to Zacks, “Eaton Vance Corp.’s principal business is creating, marketing and managing investment funds and providing investment management and counseling services to institutions and individuals.The Company conducts its investment management and counseling business through two wholly-owned subsidiaries, Eaton Vance Management and Boston Management and Research.The Company’s growth has resulted from its ability to develop, offer successfully and manage effectively new funds and to increase the assets of existing Eaton Vance Funds. “
A number of other analysts have also commented on the company. Credit Suisse Group AG restated a hold rating and issued a $37.00 price target on shares of Eaton Vance Corp. in a report on Thursday, September 1st. Jefferies Group lifted their target price on Eaton Vance Corp. from $34.00 to $38.00 and gave the company a hold rating in a research report on Tuesday, August 16th. Finally, Keefe, Bruyette & Woods lifted their target price on Eaton Vance Corp. from $38.00 to $40.00 and gave the company a market perform rating in a research report on Friday, August 19th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Eaton Vance Corp. has a consensus rating of Hold and an average price target of $37.54.
Shares of Eaton Vance Corp. (NYSE:EV) traded down 0.26% during midday trading on Wednesday, hitting $38.78. The stock had a trading volume of 69,978 shares. Eaton Vance Corp. has a 12-month low of $26.44 and a 12-month high of $40.36. The firm has a 50-day moving average of $39.24 and a 200 day moving average of $36.50. The firm has a market cap of $4.23 billion, a PE ratio of 18.63 and a beta of 1.76.
Eaton Vance Corp. (NYSE:EV) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $341.20 million for the quarter. Eaton Vance Corp. had a return on equity of 39.06% and a net margin of 17.83%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. On average, analysts expect that Eaton Vance Corp. will post $2.13 earnings per share for the current year.
In other Eaton Vance Corp. news, Director Brian D. Langstraat sold 38,012 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $39.79, for a total transaction of $1,512,497.48. Following the transaction, the director now owns 107,712 shares of the company’s stock, valued at $4,285,860.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey P. Beale sold 53,153 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $39.58, for a total value of $2,103,795.74. Following the transaction, the insider now directly owns 327,591 shares in the company, valued at approximately $12,966,051.78. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in EV. Americafirst Capital Management LLC acquired a new position in shares of Eaton Vance Corp. during the second quarter worth $102,000. IFP Advisors Inc increased its position in shares of Eaton Vance Corp. by 29.1% in the first quarter. IFP Advisors Inc now owns 3,532 shares of the company’s stock worth $118,000 after buying an additional 797 shares during the period. Strs Ohio increased its position in shares of Eaton Vance Corp. by 4,947.9% in the second quarter. Strs Ohio now owns 3,685 shares of the company’s stock worth $130,000 after buying an additional 3,612 shares during the period. Tredje AP fonden increased its position in shares of Eaton Vance Corp. by 467.5% in the second quarter. Tredje AP fonden now owns 4,540 shares of the company’s stock worth $160,000 after buying an additional 3,740 shares during the period. Finally, Advisor Group Inc. acquired a new position in shares of Eaton Vance Corp. during the second quarter worth $171,000. 70.88% of the stock is currently owned by hedge funds and other institutional investors.
Eaton Vance Corp. Company Profile
Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels.
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