Tudor Investment Corp ET AL purchased a new position in shares of Eaton Vance Corporation (NYSE:EV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,106 shares of the asset manager’s stock, valued at approximately $620,000.
Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Eaton Vance Corporation by 131.9% during the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock worth $150,000 after buying an additional 1,900 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Eaton Vance Corporation during the second quarter worth $166,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Eaton Vance Corporation by 53.8% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,000 shares of the asset manager’s stock worth $180,000 after buying an additional 1,400 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Eaton Vance Corporation by 44.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,197 shares of the asset manager’s stock worth $199,000 after buying an additional 1,296 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Eaton Vance Corporation during the second quarter worth $203,000. 68.91% of the stock is owned by institutional investors.
EV has been the subject of several recent research reports. BidaskClub downgraded Eaton Vance Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. J P Morgan Chase & Co raised Eaton Vance Corporation from an “underweight” rating to a “neutral” rating and set a $48.00 price target for the company in a research report on Thursday, August 24th. Credit Suisse Group raised their price target on Eaton Vance Corporation from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and set a $45.00 price target on shares of Eaton Vance Corporation in a research report on Wednesday, June 28th. Finally, Zacks Investment Research downgraded Eaton Vance Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $49.58.
In other Eaton Vance Corporation news, insider Jeffrey P. Beale sold 39,343 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $48.30, for a total transaction of $1,900,266.90. Following the sale, the insider now directly owns 343,509 shares of the company’s stock, valued at approximately $16,591,484.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Frederick S. Marius sold 8,915 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $47.55, for a total transaction of $423,908.25. Following the sale, the insider now directly owns 30,955 shares in the company, valued at $1,471,910.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 357,246 shares of company stock worth $17,439,425.
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Shares of Eaton Vance Corporation (NYSE:EV) opened at 50.05 on Monday. The stock has a market cap of $5.61 billion, a P/E ratio of 21.76 and a beta of 1.84. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $50.40. The stock has a 50 day moving average price of $47.69 and a 200-day moving average price of $46.64.
Eaton Vance Corporation (NYSE:EV) last announced its earnings results on Wednesday, August 23rd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Eaton Vance Corporation had a net margin of 18.03% and a return on equity of 34.47%. The firm had revenue of $393.70 million for the quarter, compared to analyst estimates of $398.74 million. During the same period last year, the firm earned $0.56 earnings per share. Eaton Vance Corporation’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, analysts forecast that Eaton Vance Corporation will post $2.46 EPS for the current fiscal year.
About Eaton Vance Corporation
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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