S&CO Inc. lessened its holdings in shares of Eaton Vance Corp (NYSE:EV) by 19.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 24,882 shares of the asset manager’s stock after selling 6,015 shares during the quarter. S&CO Inc.’s holdings in Eaton Vance were worth $1,308,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Eaton Vance by 2.3% in the second quarter. BlackRock Inc. now owns 11,879,833 shares of the asset manager’s stock valued at $620,009,000 after buying an additional 270,518 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Eaton Vance by 11.7% in the second quarter. Janus Henderson Group PLC now owns 2,145,962 shares of the asset manager’s stock valued at $111,998,000 after buying an additional 224,463 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Eaton Vance by 3.9% in the second quarter. Wells Fargo & Company MN now owns 5,254,672 shares of the asset manager’s stock valued at $274,240,000 after buying an additional 195,599 shares during the period. Dai Ichi Life Insurance Company Ltd acquired a new stake in shares of Eaton Vance in the second quarter valued at $8,813,000. Finally, WINTON GROUP Ltd lifted its holdings in shares of Eaton Vance by 1,857.6% in the second quarter. WINTON GROUP Ltd now owns 172,251 shares of the asset manager’s stock valued at $8,990,000 after buying an additional 163,452 shares during the period. Institutional investors own 67.88% of the company’s stock.
NYSE:EV opened at $44.86 on Thursday. The firm has a market cap of $5.24 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 0.66 and a beta of 1.65. Eaton Vance Corp has a 1-year low of $42.16 and a 1-year high of $60.95. The company has a current ratio of 8.35, a quick ratio of 8.35 and a debt-to-equity ratio of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.12%. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, October 30th. Eaton Vance’s payout ratio is presently 56.45%.
In other Eaton Vance news, CEO Thomas E. Faust, Jr. sold 33,407 shares of the company’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $45.50, for a total value of $1,520,018.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Faust, Jr. sold 54,134 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $43.38, for a total value of $2,348,332.92. The disclosure for this sale can be found here. Insiders have sold 149,984 shares of company stock worth $6,618,100 over the last three months.
Several analysts have recently weighed in on EV shares. Deutsche Bank cut their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, September 27th. Zacks Investment Research lowered Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. ValuEngine downgraded Eaton Vance from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Finally, Citigroup reduced their target price on Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a report on Thursday, August 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.07.
About Eaton Vance
Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
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