Today, APG Asset Management N.V. Reduces stake in Eaton Vance Corp. (EV)

Today, APG Asset Management N.V. Reduces stake in Eaton Vance Corp. (EV)
APG Asset Management N.V. decreased its stake in Eaton Vance Corp. (NYSE:EV) by 23.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,261 shares of the company’s stock after selling 15,900 shares during the period. APG Asset Management N.V.’s holdings in Eaton Vance Corp. were worth $2,041,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Eaton Vance Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 9,089,659 shares of the company’s stock valued at $321,229,000 after buying an additional 270,956 shares in the last quarter. BlackRock Fund Advisors increased its stake in Eaton Vance Corp. by 1.9% in the second quarter. BlackRock Fund Advisors now owns 4,242,317 shares of the company’s stock valued at $149,923,000 after buying an additional 80,703 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Eaton Vance Corp. by 3.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,703,742 shares of the company’s stock valued at $130,890,000 after buying an additional 136,425 shares in the last quarter. FMR LLC increased its stake in Eaton Vance Corp. by 3.6% in the second quarter. FMR LLC now owns 1,645,660 shares of the company’s stock valued at $58,158,000 after buying an additional 57,700 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in Eaton Vance Corp. by 1.7% in the second quarter. Janus Capital Management LLC now owns 1,510,824 shares of the company’s stock valued at $53,392,000 after buying an additional 24,848 shares in the last quarter. Hedge funds and other institutional investors own 72.30% of the company’s stock.

Shares of Eaton Vance Corp. (NYSE:EV) traded up 1.82% during trading on Thursday, reaching $40.35. The company’s stock had a trading volume of 748,392 shares. Eaton Vance Corp. has a 12 month low of $26.44 and a 12 month high of $40.85. The stock’s 50 day moving average price is $37.67 and its 200-day moving average price is $37.35. The firm has a market cap of $4.40 billion, a PE ratio of 19.38 and a beta of 1.78.

Eaton Vance Corp. (NYSE:EV) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by $0.02. Eaton Vance Corp. had a return on equity of 39.77% and a net margin of 17.97%. The business had revenue of $346.85 million for the quarter, compared to analyst estimates of $341.46 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Equities analysts predict that Eaton Vance Corp. will post $2.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st were issued a dividend of $0.28 per share. This is an increase from Eaton Vance Corp.’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, October 27th. Eaton Vance Corp.’s dividend payout ratio (DPR) is presently 53.33%.

EV has been the topic of several recent research reports. Zacks Investment Research raised Eaton Vance Corp. from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Friday, September 16th. Jefferies Group reissued a “hold” rating and issued a $37.00 price target on shares of Eaton Vance Corp. in a research note on Wednesday. Credit Suisse Group AG reissued a “hold” rating and issued a $37.00 price target on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Keefe, Bruyette & Woods lifted their price target on Eaton Vance Corp. from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, August 19th. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of Eaton Vance Corp. in a research report on Sunday, October 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $37.11.

In other news, insider Payson F. Swaffield sold 94,727 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.40, for a total transaction of $3,353,335.80. Following the transaction, the insider now owns 750,659 shares of the company’s stock, valued at approximately $26,573,328.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian D. Langstraat sold 38,012 shares of the stock in a transaction dated 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 directly owns 107,712 shares in the company, valued at approximately $4,285,860.48. The disclosure for this sale can be found here.

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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