Wells Fargo & Company MN reduced its position in Eaton Vance (NYSE:EV) by 0.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,059,073 shares of the asset manager’s stock after selling 39,601 shares during the period. Wells Fargo & Company MN owned about 4.21% of Eaton Vance worth $281,639,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors acquired a new stake in Eaton Vance during the fourth quarter worth approximately $114,000. Cerebellum GP LLC acquired a new stake in Eaton Vance during the fourth quarter worth approximately $128,000. Hyman Charles D acquired a new stake in Eaton Vance during the fourth quarter worth approximately $209,000. Stone Ridge Asset Management LLC acquired a new stake in Eaton Vance during the fourth quarter worth approximately $213,000. Finally, Koch Industries Inc. acquired a new stake in Eaton Vance during the fourth quarter worth approximately $219,000. Hedge funds and other institutional investors own 69.83% of the company’s stock.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Eaton Vance from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, January 23rd. JPMorgan Chase set a $58.00 target price on shares of Eaton Vance and gave the stock a “hold” rating in a report on Wednesday, February 21st. ValuEngine raised shares of Eaton Vance from a “hold” rating to a “buy” rating in a report on Monday, May 7th. Deutsche Bank raised their target price on shares of Eaton Vance from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, April 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $59.00 target price on shares of Eaton Vance in a report on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.31.
Eaton Vance (NYSE:EV) last announced its earnings results on Tuesday, February 27th. The asset manager reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The company had revenue of $421.40 million for the quarter, compared to analysts’ expectations of $420.62 million. Eaton Vance had a net margin of 18.77% and a return on equity of 34.09%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. equities analysts predict that Eaton Vance will post 3.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, April 27th. This represents a $1.24 dividend on an annualized basis and a yield of 2.15%. Eaton Vance’s dividend payout ratio (DPR) is 50.00%.
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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