First Midwest Bank Trust Division acquired a new position in shares of Eaton Vance Corp (NYSE:EV) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,521 shares of the asset manager’s stock, valued at approximately $303,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Eaton Vance by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,790,439 shares of the asset manager’s stock valued at $94,105,000 after acquiring an additional 12,246 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Eaton Vance in the 3rd quarter worth approximately $594,000. Legal & General Group Plc raised its holdings in shares of Eaton Vance by 1.1% in the 3rd quarter. Legal & General Group Plc now owns 254,286 shares of the asset manager’s stock worth $13,365,000 after buying an additional 2,851 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Eaton Vance by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,560,314 shares of the asset manager’s stock worth $607,610,000 after buying an additional 99,107 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in shares of Eaton Vance by 2.1% in the 3rd quarter. Great Lakes Advisors LLC now owns 35,780 shares of the asset manager’s stock worth $1,881,000 after buying an additional 732 shares in the last quarter. 71.26% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on EV. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday. Credit Suisse Group dropped their target price on Eaton Vance from $51.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, January 14th. Deutsche Bank cut Eaton Vance from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $39.00 in a report on Thursday, January 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $39.00 target price on shares of Eaton Vance in a report on Wednesday, January 9th. Finally, ValuEngine cut Eaton Vance from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Eaton Vance currently has a consensus rating of “Hold” and an average price target of $42.00.
NYSE EV opened at $41.08 on Friday. The company has a market cap of $4.84 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.73 and a beta of 1.60. Eaton Vance Corp has a one year low of $32.28 and a one year high of $58.54. The company has a debt-to-equity ratio of 1.43, a quick ratio of 13.48 and a current ratio of 13.48.
Eaton Vance (NYSE:EV) last released its quarterly earnings results on Tuesday, February 26th. The asset manager reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.01). The business had revenue of $406.42 million for the quarter, compared to the consensus estimate of $421.97 million. Eaton Vance had a return on equity of 35.03% and a net margin of 23.16%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Analysts forecast that Eaton Vance Corp will post 3.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 3.41%. Eaton Vance’s dividend payout ratio is currently 43.61%.
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Eaton Vance 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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