First Trust Advisors LP cut its stake in Eaton Vance Corp (NYSE:EV) by 35.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,135 shares of the asset manager’s stock after selling 124,585 shares during the period. First Trust Advisors LP’s holdings in Eaton Vance were worth $7,357,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Great Diamond Partners LLC purchased a new stake in Eaton Vance in the fourth quarter worth about $28,000. Meeder Asset Management Inc. lifted its stake in Eaton Vance by 163.8% in the fourth quarter. Meeder Asset Management Inc. now owns 968 shares of the asset manager’s stock worth $45,000 after acquiring an additional 601 shares during the period. Cedar Wealth Management LLC purchased a new stake in Eaton Vance in the first quarter worth about $45,000. First Bank & Trust lifted its stake in Eaton Vance by 272.3% in the first quarter. First Bank & Trust now owns 1,519 shares of the asset manager’s stock worth $49,000 after acquiring an additional 1,111 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new stake in Eaton Vance in the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 67.46% of the company’s stock.
A number of research firms recently weighed in on EV. Citigroup lowered their price objective on shares of Eaton Vance from $50.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Cfra decreased their price target on shares of Eaton Vance from $52.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday. Zacks Investment Research lowered shares of Eaton Vance from a “hold” rating to a “sell” rating and set a $40.00 price target for the company. in a research report on Tuesday, May 12th. ValuEngine raised shares of Eaton Vance from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 4th. Finally, Bank of America increased their price target on shares of Eaton Vance from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Eaton Vance currently has an average rating of “Hold” and an average target price of $38.38.
Shares of Eaton Vance stock opened at $35.91 on Friday. The firm has a market capitalization of $3.97 billion, a P/E ratio of 9.91, a PEG ratio of 1.83 and a beta of 1.51. The company has a quick ratio of 5.98, a current ratio of 4.93 and a debt-to-equity ratio of 1.34. The company has a 50 day moving average price of $34.12 and a 200 day moving average price of $42.00. Eaton Vance Corp has a 52 week low of $23.59 and a 52 week high of $51.79.
Eaton Vance (NYSE:EV) last announced its quarterly earnings data on Wednesday, May 20th. The asset manager reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.09. The firm had revenue of $405.90 million during the quarter, compared to analyst estimates of $421.55 million. Eaton Vance had a net margin of 22.48% and a return on equity of 32.92%. Eaton Vance’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. As a group, research analysts anticipate that Eaton Vance Corp will post 2.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Wednesday, April 29th. Eaton Vance’s payout ratio is currently 43.48%.
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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