Shelton Capital Management purchased a new stake in Eaton Vance Corporation (NYSE:EV) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,639 shares of the asset manager’s stock, valued at approximately $409,000.
Other institutional investors also recently added to or reduced their stakes in the company. Capital One National Association raised its holdings in Eaton Vance Corporation by 10.4% in the 2nd quarter. Capital One National Association now owns 44,547 shares of the asset manager’s stock valued at $2,108,000 after acquiring an additional 4,190 shares during the period. HighTower Advisors LLC increased its holdings in shares of Eaton Vance Corporation by 4.5% during the first quarter. HighTower Advisors LLC now owns 166,598 shares of the asset manager’s stock worth $7,426,000 after purchasing an additional 7,172 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Eaton Vance Corporation during the second quarter worth approximately $2,350,000. UBS Group AG increased its holdings in shares of Eaton Vance Corporation by 22.9% during the first quarter. UBS Group AG now owns 132,230 shares of the asset manager’s stock worth $5,945,000 after purchasing an additional 24,680 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Eaton Vance Corporation during the second quarter worth approximately $2,181,000. 68.91% of the stock is currently owned by hedge funds and other institutional investors.
Eaton Vance Corporation (EV) opened at 50.22 on Wednesday. Eaton Vance Corporation has a one year low of $34.44 and a one year high of $50.56. The company has a market capitalization of $5.63 billion, a PE ratio of 21.83 and a beta of 1.84. The stock’s 50 day moving average is $47.88 and its 200 day moving average is $46.75.
Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The business had revenue of $393.70 million during the quarter, compared to the consensus estimate of $398.74 million. During the same period last year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts anticipate that Eaton Vance Corporation will post $2.47 earnings per share for the current fiscal year.
In related news, CEO Thomas E. Faust, Jr. sold 73,982 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $48.20, for a total transaction of $3,565,932.40. Following the sale, the chief executive officer now owns 2,697,576 shares of the company’s stock, valued at approximately $130,023,163.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann E. Berman sold 6,865 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $48.88, for a total transaction of $335,561.20. Following the sale, the director now directly owns 6,865 shares in the company, valued at approximately $335,561.20. The disclosure for this sale can be found here. In the last three months, insiders sold 357,246 shares of company stock worth $17,439,425.
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Several research analysts have recently commented on EV shares. BidaskClub cut shares of Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. J P Morgan Chase & Co raised shares of Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 target price on the stock in a report on Thursday, August 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $46.00 target price on shares of Eaton Vance Corporation in a report on Friday, August 18th. Zacks Investment Research cut shares of Eaton Vance Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Credit Suisse Group raised their target price on shares of Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Eaton Vance Corporation presently has an average rating of “Hold” and a consensus price target of $49.58.
Eaton Vance Corporation 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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