Eaton Vance Corp (NYSE:EV) – Research analysts at Jefferies Financial Group cut their Q1 2019 earnings estimates for shares of Eaton Vance in a note issued to investors on Monday, December 3rd. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will post earnings per share of $0.80 for the quarter, down from their prior estimate of $0.81. Jefferies Financial Group currently has a “Hold” rating and a $42.00 price target on the stock. Jefferies Financial Group also issued estimates for Eaton Vance’s Q2 2019 earnings at $0.80 EPS.
Eaton Vance (NYSE:EV) last released its earnings results on Tuesday, November 27th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.85. Eaton Vance had a return on equity of 35.94% and a net margin of 22.44%. The business had revenue of $435.97 million during the quarter, compared to the consensus estimate of $435.02 million.
NYSE:EV opened at $38.07 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 5.08 and a quick ratio of 8.35. Eaton Vance has a 1 year low of $37.19 and a 1 year high of $60.95. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.85 and a beta of 1.64.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were issued a $0.35 dividend. This is a positive change from Eaton Vance’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, October 30th. Eaton Vance’s dividend payout ratio (DPR) is presently 43.61%.
In other news, CEO Thomas E. Faust, Jr. sold 54,134 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $43.38, for a total value of $2,348,332.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas E. Faust, Jr. sold 43,500 shares of the firm’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $43.01, for a total value of $1,870,935.00. The disclosure for this sale can be found here. Insiders sold 149,984 shares of company stock valued at $6,618,100 over the last ninety days.
Large investors have recently bought and sold shares of the stock. Cerebellum GP LLC boosted its stake in Eaton Vance by 525.0% during the third quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock valued at $175,000 after buying an additional 2,793 shares during the period. Korea Investment CORP bought a new stake in Eaton Vance during the second quarter valued at $193,000. Daiwa SB Investments Ltd. bought a new stake in Eaton Vance during the third quarter valued at $200,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in Eaton Vance during the second quarter valued at $227,000. Finally, Gideon Capital Advisors Inc. bought a new stake in Eaton Vance during the second quarter valued at $232,000. 66.64% of the stock is owned by institutional investors.
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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