Eaton Vance Corp (NYSE:EV) Shares Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC increased its holdings in shares of Eaton Vance Corp (NYSE:EV) by 20.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,806 shares of the asset manager’s stock after acquiring an additional 2,642 shares during the period. Occidental Asset Management LLC’s holdings in Eaton Vance were worth $682,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EV. Penserra Capital Management LLC acquired a new position in Eaton Vance during the first quarter worth $31,000. Quadrant Capital Group LLC grew its holdings in Eaton Vance by 295.2% in the first quarter. Quadrant Capital Group LLC now owns 913 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 682 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Eaton Vance by 127.0% in the first quarter. Rehmann Capital Advisory Group now owns 901 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 504 shares during the last quarter. Advisory Services Network LLC grew its holdings in Eaton Vance by 59.4% in the second quarter. Advisory Services Network LLC now owns 1,092 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 407 shares during the last quarter. Finally, Flagship Harbor Advisors LLC grew its holdings in Eaton Vance by 155.6% in the second quarter. Flagship Harbor Advisors LLC now owns 1,411 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 859 shares during the last quarter. 71.60% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Leo I. Higdon, Jr. sold 4,883 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $44.32, for a total transaction of $216,414.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian D. Langstraat sold 3,772 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $43.89, for a total value of $165,553.08. The disclosure for this sale can be found here.

Several analysts have weighed in on the company. Bank of America lowered Eaton Vance from a “buy” rating to an “underperform” rating in a report on Monday, May 20th. Credit Suisse Group assumed coverage on Eaton Vance in a report on Wednesday, June 12th. They issued a “neutral” rating and a $44.00 target price on the stock. ValuEngine lowered Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Friday, May 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Eaton Vance presently has a consensus rating of “Hold” and an average target price of $42.00.

Shares of NYSE:EV traded down $0.49 on Thursday, hitting $38.73. The company had a trading volume of 27,517 shares, compared to its average volume of 688,375. The company has a debt-to-equity ratio of 1.49, a quick ratio of 11.82 and a current ratio of 11.82. Eaton Vance Corp has a 52-week low of $32.28 and a 52-week high of $54.44. The business has a 50 day moving average of $43.32. The firm has a market capitalization of $4.49 billion, a P/E ratio of 12.17, a PEG ratio of 2.25 and a beta of 1.58.

Eaton Vance (NYSE:EV) last issued its quarterly earnings data on Tuesday, May 21st. The asset manager reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.13. Eaton Vance had a return on equity of 35.53% and a net margin of 23.50%. The business had revenue of $411.86 million for the quarter, compared to the consensus estimate of $411.42 million. During the same period in the prior year, the business earned $0.77 earnings per share. The business’s revenue was down .2% on a year-over-year basis. On average, research analysts predict that Eaton Vance Corp will post 3.36 EPS for the current fiscal year.

Eaton Vance declared that its board has authorized a stock buyback program on Wednesday, July 10th that allows the company to buyback 8,000,000 outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.61%. Eaton Vance’s dividend payout ratio is currently 43.61%.

Eaton Vance Profile

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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Institutional Ownership by Quarter for Eaton Vance (NYSE:EV)

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