Homrich & Berg bought a new stake in Eaton Vance Corp (NYSE:EV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,012 shares of the asset manager’s stock, valued at approximately $339,000.
A number of other institutional investors have also added to or reduced their stakes in EV. UBS Asset Management Americas Inc. grew its holdings in Eaton Vance by 2.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 335,902 shares of the asset manager’s stock valued at $18,942,000 after buying an additional 7,122 shares during the period. BlackRock Inc. grew its holdings in shares of Eaton Vance by 5.0% during the 4th quarter. BlackRock Inc. now owns 11,297,677 shares of the asset manager’s stock worth $637,078,000 after purchasing an additional 533,248 shares during the period. Schroder Investment Management Group lifted its position in Eaton Vance by 23.9% during the 4th quarter. Schroder Investment Management Group now owns 180,048 shares of the asset manager’s stock worth $10,153,000 after acquiring an additional 34,744 shares in the last quarter. Rhumbline Advisers lifted its position in Eaton Vance by 5.1% during the 4th quarter. Rhumbline Advisers now owns 275,118 shares of the asset manager’s stock worth $15,514,000 after acquiring an additional 13,305 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Eaton Vance by 30.5% in the 4th quarter. Arizona State Retirement System now owns 85,004 shares of the asset manager’s stock valued at $4,793,000 after purchasing an additional 19,870 shares in the last quarter. 70.68% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on EV shares. Zacks Investment Research raised Eaton Vance from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Jefferies Group reaffirmed a “hold” rating and issued a $46.00 target price on shares of Eaton Vance in a research report on Thursday, October 26th. Bank of America upped their target price on Eaton Vance from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $53.00 price target on shares of Eaton Vance in a research report on Friday, November 10th. Finally, ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Eaton Vance has a consensus rating of “Hold” and an average target price of $53.44.
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 Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The firm had revenue of $405.70 million for the quarter, compared to analyst estimates of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The business’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. research analysts predict that Eaton Vance Corp will post 3.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Tuesday, January 30th. Eaton Vance’s dividend payout ratio is currently 51.24%.
In related news, Director Dorothy E. Puhy sold 9,490 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $60.49, for a total transaction of $574,050.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Witkos sold 25,000 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $60.35, for a total value of $1,508,750.00. The disclosure for this sale can be found here.
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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.
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