Grimes & Company Inc. boosted its stake in shares of Eaton Vance Corp. (NYSE:EV) by 9.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,664 shares of the company’s stock after buying an additional 17,577 shares during the period. Eaton Vance Corp. makes up approximately 1.0% of Grimes & Company Inc.’s holdings, making the stock its 22nd largest position. Grimes & Company Inc. owned 0.18% of Eaton Vance Corp. worth $7,126,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in EV. Northwest Investment Counselors LLC increased its stake in Eaton Vance Corp. by 0.9% in the second quarter. Northwest Investment Counselors LLC now owns 15,183 shares of the company’s stock worth $537,000 after buying an additional 134 shares during the period. Somerset Trust Co increased its stake in Eaton Vance Corp. by 2.5% in the second quarter. Somerset Trust Co now owns 14,999 shares of the company’s stock worth $530,000 after buying an additional 372 shares during the period. Creative Planning increased its stake in Eaton Vance Corp. by 8.4% in the second quarter. Creative Planning now owns 4,875 shares of the company’s stock worth $172,000 after buying an additional 378 shares during the period. Shell Asset Management Co. increased its stake in Eaton Vance Corp. by 2.4% in the second quarter. Shell Asset Management Co. now owns 18,883 shares of the company’s stock worth $667,000 after buying an additional 438 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in Eaton Vance Corp. by 0.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 109,460 shares of the company’s stock worth $3,669,000 after buying an additional 568 shares during the period. Institutional investors own 70.89% of the company’s stock.
Eaton Vance Corp. (NYSE:EV) traded up 0.05% during trading on Tuesday, hitting $38.86. 624,807 shares of the stock were exchanged. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 18.66 and a beta of 1.70. The company has a 50-day moving average price of $39.02 and a 200 day moving average price of $35.94. Eaton Vance Corp. has a 1-year low of $26.44 and a 1-year high of $40.36.
Eaton Vance Corp. (NYSE:EV) last posted its earnings results on Wednesday, August 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The business 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%. Eaton Vance Corp.’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. Equities analysts predict that Eaton Vance Corp. will post $2.14 earnings per share for the current fiscal year.
A number of research firms recently issued reports on EV. Keefe, Bruyette & Woods restated a “hold” rating on shares of Eaton Vance Corp. in a report on Sunday, May 29th. Zacks Investment Research downgraded shares of Eaton Vance Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Jefferies Group restated a “hold” rating on shares of Eaton Vance Corp. in a report on Monday, August 1st. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.54.
In other Eaton Vance Corp. news, CEO Matthew J. Witkos sold 94,408 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 197,077 shares in the company, valued at approximately $7,898,846.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Winthrop H. Smith, Jr. sold 8,197 shares of the company’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $37.20, for a total transaction of $304,928.40. Following the transaction, the director now owns 17,197 shares in the company, valued at approximately $639,728.40. The disclosure for this sale can be found here.
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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