Assenagon Asset Management S.A. acquired a new position in shares of Eaton Vance Corp (NYSE:EV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 164,600 shares of the asset manager’s stock, valued at approximately $6,354,000. Assenagon Asset Management S.A. owned 0.14% of Eaton Vance at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. State of Tennessee Treasury Department increased its holdings in Eaton Vance by 102.6% in the first quarter. State of Tennessee Treasury Department now owns 72,652 shares of the asset manager’s stock valued at $2,343,000 after buying an additional 36,794 shares in the last quarter. Invesco Ltd. increased its stake in shares of Eaton Vance by 1.2% during the first quarter. Invesco Ltd. now owns 402,716 shares of the asset manager’s stock worth $12,987,000 after purchasing an additional 4,623 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Eaton Vance during the first quarter worth about $2,491,000. The Manufacturers Life Insurance Company increased its stake in shares of Eaton Vance by 2.0% during the first quarter. The Manufacturers Life Insurance Company now owns 162,054 shares of the asset manager’s stock worth $5,226,000 after purchasing an additional 3,213 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Eaton Vance by 4.9% during the first quarter. Legal & General Group Plc now owns 481,787 shares of the asset manager’s stock worth $15,538,000 after purchasing an additional 22,622 shares in the last quarter. Institutional investors and hedge funds own 67.51% of the company’s stock.
NYSE:EV opened at $37.58 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 5.28 and a quick ratio of 5.28. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.88 and a beta of 1.49. The company’s 50-day moving average is $38.80 and its two-hundred day moving average is $39.22. Eaton Vance Corp has a 1-year low of $23.59 and a 1-year high of $51.79.
Eaton Vance (NYSE:EV) last posted its earnings results on Wednesday, May 20th. The asset manager reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $405.90 million for 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 in the previous year, the business posted $0.89 EPS. As a group, equities analysts anticipate that Eaton Vance Corp will post 3.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.375 dividend. The ex-dividend date is Thursday, July 30th. This represents a $1.50 annualized dividend and a yield of 3.99%. Eaton Vance’s payout ratio is 43.48%.
A number of research firms have recently commented on EV. Deutsche Bank cut their target price on shares of Eaton Vance from $41.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Credit Suisse Group boosted their target price on shares of Eaton Vance from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Zacks Investment Research cut shares of Eaton Vance from a “hold” rating to a “sell” rating and set a $40.00 target price for the company. in a research note on Tuesday, May 12th. Cfra upped their price objective on shares of Eaton Vance from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Eaton Vance from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Eaton Vance currently has an average rating of “Hold” and a consensus price target of $39.75.
Eaton Vance Company 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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