JLB & Associates Inc. boosted its stake in shares of Eaton Vance Corp (NYSE:EV) by 15.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,995 shares of the asset manager’s stock after buying an additional 25,959 shares during the quarter. JLB & Associates Inc. owned approximately 0.17% of Eaton Vance worth $8,021,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Eaton Vance by 0.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,790,439 shares of the asset manager’s stock worth $94,105,000 after purchasing an additional 12,246 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Eaton Vance during the 3rd quarter worth approximately $594,000. Legal & General Group Plc grew its position in Eaton Vance by 1.1% during the 3rd quarter. Legal & General Group Plc now owns 254,286 shares of the asset manager’s stock worth $13,365,000 after purchasing an additional 2,851 shares during the last quarter. Vanguard Group Inc. grew its position in Eaton Vance by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,560,314 shares of the asset manager’s stock worth $607,610,000 after purchasing an additional 99,107 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its position in Eaton Vance by 2.1% during the 3rd quarter. Great Lakes Advisors LLC now owns 35,780 shares of the asset manager’s stock worth $1,881,000 after purchasing an additional 732 shares during the last quarter. 69.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EV traded up $0.59 during trading hours on Friday, hitting $40.14. The stock had a trading volume of 897,600 shares, compared to its average volume of 972,131. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.56 and a quick ratio of 13.48. Eaton Vance Corp has a fifty-two week low of $32.28 and a fifty-two week high of $57.05. The stock has a market cap of $4.63 billion, a P/E ratio of 12.50, a P/E/G ratio of 3.06 and a beta of 1.60.
Eaton Vance (NYSE:EV) last released its earnings results on Tuesday, May 21st. The asset manager reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.13. Eaton Vance had a net margin of 23.50% and a return on equity of 35.53%. The business had revenue of $411.86 million during the quarter, compared to analyst estimates of $411.42 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts expect that Eaton Vance Corp will post 3.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Monday, April 29th. Eaton Vance’s payout ratio is 43.61%.
In related news, Director Brian D. Langstraat sold 7,740 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $41.76, for a total value of $323,222.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several research firms have weighed in on EV. Zacks Investment Research raised shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Friday. Bank of America cut shares of Eaton Vance from a “buy” rating to an “underperform” rating in a research note on Monday. Finally, ValuEngine cut shares of Eaton Vance from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.86.
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Eaton Vance Profile
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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