JPMorgan Chase & Co. Analysts Give Eaton Vance (EV) a $58.00 Price Target

JPMorgan Chase & Co. set a $58.00 target price on Eaton Vance (NYSE:EV) in a report published on Wednesday morning. The brokerage currently has a hold rating on the asset manager’s stock.

EV has been the subject of several other reports. Zacks Investment Research raised shares of Eaton Vance from a hold rating to a buy rating and set a $57.00 price target for the company in a research note on Thursday, November 2nd. Jefferies Group reaffirmed a hold rating and issued a $46.00 price target on shares of Eaton Vance in a research note on Thursday, October 26th. ValuEngine raised shares of Eaton Vance from a hold rating to a buy rating in a research note on Wednesday, November 22nd. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $53.00 price target on shares of Eaton Vance in a research note on Friday, November 10th. Finally, Bank of America lifted their price target on shares of Eaton Vance from $49.00 to $51.00 and gave the company a neutral rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Eaton Vance currently has a consensus rating of Hold and a consensus price target of $54.69.

Shares of Eaton Vance (NYSE EV) opened at $55.45 on Wednesday. Eaton Vance has a 52 week low of $42.20 and a 52 week high of $60.95. The company has a quick ratio of 5.44, a current ratio of 5.44 and a debt-to-equity ratio of 0.62. The firm has a market cap of $6,496.65, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 0.60 and a beta of 1.79.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders 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 2.24%. The ex-dividend date was Tuesday, January 30th. Eaton Vance’s payout ratio is presently 51.24%.

In other news, Director Dorothy E. Puhy sold 9,490 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Witkos sold 25,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $60.35, for a total transaction of $1,508,750.00. The disclosure for this sale can be found here.

Large investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its holdings in Eaton Vance by 437.3% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock worth $100,000 after purchasing an additional 1,653 shares during the last quarter. Captrust Financial Advisors purchased a new position in Eaton Vance during the fourth quarter worth about $114,000. Cerebellum GP LLC purchased a new position in Eaton Vance during the fourth quarter worth about $128,000. CIBC Asset Management Inc purchased a new position in Eaton Vance during the third quarter worth about $200,000. Finally, Hyman Charles D purchased a new position in Eaton Vance during the fourth quarter worth about $209,000. 70.68% of the stock is owned by institutional investors.

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Eaton Vance Company Profile

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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