Riverhead Capital Management LLC lowered its stake in shares of Eaton Vance Corp (NYSE:EV) by 69.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,900 shares of the company’s stock after selling 9,036 shares during the period. Riverhead Capital Management LLC’s holdings in Eaton Vance Corp were worth $152,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. 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 valued at $160,000 after buying an additional 3,740 shares during the last quarter. Advisor Group Inc. acquired a new position in shares of Eaton Vance Corp during the second quarter valued at approximately $171,000. Bank of Montreal Can increased its position in shares of Eaton Vance Corp by 4.8% in the third quarter. Bank of Montreal Can now owns 5,211 shares of the company’s stock valued at $203,000 after buying an additional 239 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Eaton Vance Corp during the second quarter valued at approximately $209,000. Finally, Jefferies Group LLC acquired a new position in shares of Eaton Vance Corp during the second quarter valued at approximately $265,000. Institutional investors own 70.47% of the company’s stock.
Shares of Eaton Vance Corp (NYSE:EV) traded down 1.30% during midday trading on Friday, reaching $42.48. The company’s stock had a trading volume of 622,488 shares. Eaton Vance Corp has a 52 week low of $26.44 and a 52 week high of $44.00. The stock has a market capitalization of $4.67 billion, a PE ratio of 20.04 and a beta of 1.81. The company has a 50 day moving average price of $42.66 and a 200-day moving average price of $39.50.
Eaton Vance Corp (NYSE:EV) last posted its earnings results on Tuesday, November 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by $0.02. Eaton Vance Corp had a return on equity of 38.30% and a net margin of 17.97%. The firm had revenue of $346.85 million for the quarter, compared to analysts’ expectations of $341.46 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that Eaton Vance Corp will post $2.43 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, January 27th. Eaton Vance Corp’s payout ratio is currently 53.33%.
Several equities analysts have recently commented on EV shares. Zacks Investment Research upgraded Eaton Vance Corp from a “sell” rating to a “hold” rating in a research report on Thursday, December 8th. Jefferies Group LLC restated a “hold” rating and issued a $37.00 price objective on shares of Eaton Vance Corp in a research report on Wednesday, November 23rd. Citigroup Inc. restated a “neutral” rating on shares of Eaton Vance Corp in a research report on Sunday, October 23rd. Finally, J P Morgan Chase & Co restated an “underweight” rating on shares of Eaton Vance Corp in a research report on Thursday, January 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.48.
In related news, Director Ann E. Berman sold 13,188 shares of the firm’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $43.05, for a total value of $567,743.40. Following the transaction, the director now directly owns 7,451 shares of the company’s stock, valued at approximately $320,765.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frederick S. Marius sold 45,893 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $43.71, for a total transaction of $2,005,983.03. Following the completion of the transaction, the insider now directly owns 35,042 shares in the company, valued at $1,531,685.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 247,065 shares of company stock worth $10,232,400.
Eaton Vance Corp Company Profile
Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.
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