Smithfield Trust Co. reduced its position in Eaton Vance Corp. (NYSE:EV) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,120 shares of the company’s stock after selling 107 shares during the period. Smithfield Trust Co.’s holdings in Eaton Vance Corp. were worth $357,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Eaton Vance Corp. by 683.9% in the second quarter. American Century Companies Inc. now owns 1,020,561 shares of the company’s stock valued at $36,067,000 after buying an additional 890,365 shares during the last quarter. State Street Corp raised its position in Eaton Vance Corp. by 9.9% in the first quarter. State Street Corp now owns 9,593,020 shares of the company’s stock valued at $321,555,000 after buying an additional 866,198 shares during the last quarter. Smith Asset Management Group LP acquired a new position in Eaton Vance Corp. during the second quarter valued at approximately $12,635,000. JPMorgan Chase & Co. raised its position in Eaton Vance Corp. by 24.7% in the first quarter. JPMorgan Chase & Co. now owns 1,393,494 shares of the company’s stock valued at $46,710,000 after buying an additional 275,913 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Eaton Vance Corp. by 24.4% in the first quarter. Goldman Sachs Group Inc. now owns 330,356 shares of the company’s stock valued at $11,074,000 after buying an additional 64,890 shares during the last quarter. 70.86% of the stock is owned by institutional investors.
Shares of Eaton Vance Corp. (NYSE:EV) traded up 0.16% during midday trading on Monday, hitting $37.27. The stock had a trading volume of 1,002,368 shares. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 17.90 and a beta of 1.76. Eaton Vance Corp. has a 1-year low of $26.44 and a 1-year high of $40.36. The firm has a 50-day moving average price of $38.88 and a 200-day moving average price of $36.71.
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 analysts’ consensus estimates of $0.55 by $0.01. Eaton Vance Corp. had a net margin of 17.83% and a return on equity of 39.06%. The company earned $341.20 million during the quarter. During the same quarter last year, the firm posted $0.57 EPS. The business’s revenue was down 4.0% on a year-over-year basis. On average, equities analysts anticipate that Eaton Vance Corp. will post $2.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be paid a $0.28 dividend. The ex-dividend date is Thursday, October 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from Eaton Vance Corp.’s previous quarterly dividend of $0.27. Eaton Vance Corp.’s payout ratio is 51.46%.
EV has been the subject of several analyst reports. Zacks Investment Research upgraded Eaton Vance Corp. from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Friday, September 16th. Credit Suisse Group AG reiterated a “hold” rating and issued a $37.00 target price on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Keefe, Bruyette & Woods upped their target price 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, Jefferies Group boosted their price target 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $37.54.
In related news, insider Jeffrey P. Beale sold 53,153 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $39.58, for a total value of $2,103,795.74. Following the completion of the transaction, the insider now owns 327,591 shares in the company, valued at approximately $12,966,051.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Witkos sold 94,408 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was 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 of the company’s stock, valued at approximately $7,898,846.16. 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.