Eaton Vance Corp. (NYSE:EV) announced a quarterly dividend on Thursday, October 13th. Stockholders of record on Monday, October 31st will be given a dividend of 0.28 per share on Tuesday, November 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Eaton Vance Corp.’s previous quarterly dividend of $0.27.
Shares of Eaton Vance Corp. (NYSE:EV) opened at 37.26 on Friday. Eaton Vance Corp. has a 52-week low of $26.44 and a 52-week high of $40.36. The stock has a 50 day moving average price of $38.94 and a 200-day moving average price of $36.67. The firm has a market cap of $4.06 billion, a PE ratio of 17.90 and a beta of 1.76.
Eaton Vance Corp. (NYSE:EV) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The firm had revenue of $341.20 million for the quarter. Eaton Vance Corp. had a net margin of 17.83% and a return on equity of 39.06%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. On average, equities analysts anticipate that Eaton Vance Corp. will post $2.13 EPS for the current fiscal year.
In related news, CEO Matthew J. Witkos sold 94,408 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $40.08, for a total transaction of $3,783,872.64. Following the completion of the transaction, the chief executive officer now owns 197,077 shares in the company, valued at $7,898,846.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dorothy E. Puhy sold 6,197 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $38.75, for a total transaction of $240,133.75. Following the transaction, the director now owns 15,787 shares of the company’s stock, valued at approximately $611,746.25. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of EV. Caisse DE Depot ET Placement DU Quebec increased its position in Eaton Vance Corp. by 1.2% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,400 shares of the company’s stock valued at $615,000 after buying an additional 200 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Eaton Vance Corp. during the second quarter valued at about $209,000. Paloma Partners Management Co increased its position in Eaton Vance Corp. by 81.3% in the second quarter. Paloma Partners Management Co now owns 33,845 shares of the company’s stock valued at $1,197,000 after buying an additional 15,182 shares in the last quarter. Panagora Asset Management Inc. increased its position in Eaton Vance Corp. by 16.4% in the second quarter. Panagora Asset Management Inc. now owns 11,632 shares of the company’s stock valued at $411,000 after buying an additional 1,640 shares in the last quarter. Finally, Barclays PLC increased its position in Eaton Vance Corp. by 102.5% in the second quarter. Barclays PLC now owns 103,850 shares of the company’s stock valued at $3,669,000 after buying an additional 52,574 shares in the last quarter. Hedge funds and other institutional investors own 70.88% of the company’s stock.
A number of analysts have issued reports on EV shares. Zacks Investment Research raised Eaton Vance Corp. from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Friday, September 16th. Credit Suisse Group AG reissued a “hold” rating and issued a $37.00 target price on shares of Eaton Vance Corp. in a research report on Thursday, September 1st. Keefe, Bruyette & Woods boosted 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. Finally, Jefferies Group boosted 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 Thursday, August 11th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $37.54.
About Eaton Vance Corp.
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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