Insider Selling: Eaton Vance Corp (EV) CEO Sells 54,134 Shares of Stock

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Eaton Vance Corp (NYSE:EV) CEO Thomas E. Faust, Jr. sold 54,134 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $43.38, for a total value of $2,348,332.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NYSE EV opened at $44.12 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 8.35 and a quick ratio of 8.35. The firm has a market cap of $5.04 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.72 and a beta of 1.64. Eaton Vance Corp has a 1-year low of $42.16 and a 1-year high of $60.95.

Eaton Vance (NYSE:EV) last issued its quarterly earnings data on Wednesday, August 29th. The asset manager reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $430.11 million. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. As a group, equities analysts forecast that Eaton Vance Corp will post 3.21 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.35 per share. This is a boost from Eaton Vance’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, October 30th. Eaton Vance’s dividend payout ratio is 50.00%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mount Yale Investment Advisors LLC purchased a new stake in shares of Eaton Vance during the 1st quarter worth $103,000. Clarus Wealth Advisors purchased a new stake in shares of Eaton Vance during the 2nd quarter worth $131,000. Cerebellum GP LLC raised its stake in Eaton Vance by 525.0% in the third quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock valued at $175,000 after buying an additional 2,793 shares during the last quarter. Sit Investment Associates Inc. raised its stake in Eaton Vance by 44.3% in the second quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after buying an additional 1,075 shares during the last quarter. Finally, Korea Investment CORP purchased a new stake in Eaton Vance in the second quarter valued at about $193,000. Hedge funds and other institutional investors own 68.38% of the company’s stock.

A number of equities analysts have recently issued reports on the company. ValuEngine downgraded Eaton Vance from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Deutsche Bank decreased their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. Citigroup decreased their price objective on Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a research note on Thursday, August 30th. Finally, Zacks Investment Research cut Eaton Vance from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $60.07.

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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