Eaton Vance Corp (EV) Declares $0.31 Quarterly Dividend

Eaton Vance Corp (NYSE:EV) announced a quarterly dividend on Wednesday, January 10th, RTT News reports. Shareholders of record on Wednesday, January 31st will be paid a dividend of 0.31 per share by the asset manager on Thursday, February 15th. This represents a $1.24 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Tuesday, January 30th.

Eaton Vance has raised its dividend by an average of 8.1% per year over the last three years and has increased its dividend annually for the last 37 consecutive years. Eaton Vance has a payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eaton Vance to earn $3.88 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 32.0%.

Eaton Vance (NYSE EV) traded up $0.83 during midday trading on Wednesday, hitting $60.55. The stock had a trading volume of 636,060 shares, compared to its average volume of 641,990. The firm has a market cap of $7,180.00, a price-to-earnings ratio of 25.02, a P/E/G ratio of 0.91 and a beta of 1.90. Eaton Vance has a fifty-two week low of $41.40 and a fifty-two week high of $60.87. The company has a quick ratio of 5.44, a current ratio of 5.44 and a debt-to-equity ratio of 0.62.

Eaton Vance (NYSE:EV) last released its quarterly earnings data on Tuesday, November 21st. The asset manager reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.01). The firm had revenue of $405.70 million during 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 for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. equities analysts expect that Eaton Vance will post 3.28 earnings per share for the current fiscal year.

In other Eaton Vance news, Director Dorothy E. Puhy sold 9,490 shares of Eaton Vance stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $60.49, for a total transaction of $574,050.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dorothy E. Puhy sold 5,953 shares of Eaton Vance stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $51.08, for a total value of $304,079.24. The disclosure for this sale can be found here. Insiders have sold a total of 112,182 shares of company stock worth $6,103,677 over the last three months.

Several research firms have recently weighed in on EV. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered Eaton Vance from a “buy” rating to a “hold” rating in a research report on Monday, November 27th. Deutsche Bank initiated coverage on Eaton Vance in a research report on Tuesday, October 17th. They set a “buy” rating and a $57.00 price target on the stock. 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, Jefferies Group reissued a “hold” rating and set a $46.00 price target on shares of Eaton Vance in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus 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.

Dividend History for Eaton Vance (NYSE:EV)

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