Eaton Vance (EV) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Eaton Vance (NYSE:EV)‘s stock had its “hold” rating reissued by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Friday, November 10th. They currently have a $53.00 price target on the asset manager’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 2.98% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Eaton Vance from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, November 2nd. Deutsche Bank initiated coverage on Eaton Vance in a research note on Tuesday, October 17th. They set a “buy” rating and a $57.00 price objective on the stock. Jefferies Group restated a “hold” rating and set a $46.00 price objective on shares of Eaton Vance in a research note on Friday, August 18th. Bank of America raised 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. Finally, J P Morgan Chase & Co raised Eaton Vance from an “underweight” rating to a “neutral” rating and set a $48.00 target price for the company in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.06.

Shares of Eaton Vance (NYSE:EV) traded up $1.05 on Friday, hitting $54.63. The company had a trading volume of 639,000 shares, compared to its average volume of 611,558. Eaton Vance has a 12 month low of $39.99 and a 12 month high of $54.77. The company has a current ratio of 1.85, a quick ratio of 5.74 and a debt-to-equity ratio of 0.01. The company has a market cap of $6,250.00, a PE ratio of 21.30, a P/E/G ratio of 0.95 and a beta of 1.85.

Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, November 21st. The asset manager reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). Eaton Vance had a return on equity of 33.45% and a net margin of 18.45%. The firm had revenue of $405.70 million during the quarter, compared to the consensus estimate of $407.75 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. Eaton Vance’s revenue for the quarter was up 17.0% on a year-over-year basis. analysts anticipate that Eaton Vance will post 2.96 earnings per share for the current fiscal year.

In other Eaton Vance news, Director Dorothy E. Puhy sold 5,953 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $51.08, for a total value of $304,079.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas E. Faust, Jr. sold 73,982 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $48.20, for a total value of $3,565,932.40. Following the completion of the transaction, the chief executive officer now owns 2,697,576 shares of the company’s stock, valued at approximately $130,023,163.20. The disclosure for this sale can be found here. In the last three months, insiders sold 596,037 shares of company stock valued at $29,808,641.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Eaton Vance by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 10,523,293 shares of the asset manager’s stock valued at $497,962,000 after acquiring an additional 124,336 shares during the last quarter. Wells Fargo & Company MN lifted its position in Eaton Vance by 2.1% in the 2nd quarter. Wells Fargo & Company MN now owns 5,490,011 shares of the asset manager’s stock worth $259,787,000 after buying an additional 113,967 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Eaton Vance by 33.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock worth $218,311,000 after buying an additional 1,113,748 shares during the last quarter. Earnest Partners LLC lifted its position in Eaton Vance by 0.5% in the 3rd quarter. Earnest Partners LLC now owns 1,795,310 shares of the asset manager’s stock worth $88,634,000 after buying an additional 8,804 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Eaton Vance by 2.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,768,996 shares of the asset manager’s stock worth $87,689,000 after buying an additional 46,140 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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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.

Analyst Recommendations for Eaton Vance (NYSE:EV)

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