Nationwide Fund Advisors Reduces Position in Eaton Vance Corp (NYSE:EV)

Nationwide Fund Advisors reduced its position in shares of Eaton Vance Corp (NYSE:EV) by 62.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,018 shares of the asset manager’s stock after selling 323,242 shares during the period. Nationwide Fund Advisors owned about 0.17% of Eaton Vance worth $9,628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its stake in shares of Eaton Vance by 13,411.4% during the second quarter. Janus Henderson Group PLC now owns 1,557,593 shares of the asset manager’s stock worth $73,705,000 after purchasing an additional 1,546,065 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Eaton Vance by 34.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,308,194 shares of the asset manager’s stock valued at $156,544,000 after acquiring an additional 844,813 shares during the last quarter. Junto Capital Management LP bought a new position in shares of Eaton Vance in the 2nd quarter valued at $33,813,000. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Eaton Vance by 177.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 347,511 shares of the asset manager’s stock valued at $16,444,000 after acquiring an additional 222,268 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its stake in shares of Eaton Vance by 579.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 239,882 shares of the asset manager’s stock valued at $11,351,000 after acquiring an additional 204,575 shares during the last quarter. Institutional investors and hedge funds own 68.73% of the company’s stock.

In other Eaton Vance news, CFO Laurie G. Hylton sold 17,003 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $49.60, for a total transaction of $843,348.80. Following the completion of the transaction, the chief financial officer now owns 207,578 shares of the company’s stock, valued at $10,295,868.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas E. Faust, Jr. sold 57,832 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $49.67, for a total transaction of $2,872,515.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 352,969 shares of company stock valued at $17,985,347.

Shares of Eaton Vance Corp (NYSE EV) traded down $0.37 during trading hours on Friday, reaching $56.39. 413,072 shares of the company traded hands, compared to its average volume of 643,633. Eaton Vance Corp has a one year low of $41.40 and a one year high of $57.71. The stock has a market capitalization of $6,680.00, a price-to-earnings ratio of 23.30, a PEG ratio of 0.94 and a beta of 1.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 5.44 and a quick ratio of 5.44.

Eaton Vance (NYSE:EV) last posted its quarterly earnings results on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). The business had revenue of $405.70 million for the quarter, compared to analysts’ expectations of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 earnings per share. equities analysts predict that Eaton Vance Corp will post 2.99 earnings per share for the current fiscal year.

EV has been the subject of several research analyst reports. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, November 2nd. ValuEngine raised shares of Eaton Vance from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Deutsche Bank assumed coverage on shares of Eaton Vance in a report on Tuesday, October 17th. They issued a “buy” rating and a $57.00 price target on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $53.00 target price on shares of Eaton Vance in a report on Friday, November 10th. Finally, Jefferies Group reissued a “hold” rating and set a $46.00 target price on shares of Eaton Vance in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $52.06.

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About Eaton Vance

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.

Institutional Ownership by Quarter for Eaton Vance (NYSE:EV)

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