Russell Investments Group Ltd. acquired a new stake in shares of Eaton Vance Corp (NYSE:EV) during the fourth quarter, Holdings Channel reports. The firm acquired 58,717 shares of the company’s stock, valued at approximately $2,457,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in Eaton Vance Corp by 4.3% in the third quarter. BlackRock Fund Advisors now owns 4,424,891 shares of the company’s stock valued at $172,792,000 after buying an additional 182,574 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Eaton Vance Corp by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 1,435,515 shares of the company’s stock valued at $56,057,000 after buying an additional 16,959 shares in the last quarter. Schroder Investment Management Group raised its stake in Eaton Vance Corp by 56.8% in the third quarter. Schroder Investment Management Group now owns 800,635 shares of the company’s stock valued at $31,265,000 after buying an additional 289,896 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Eaton Vance Corp by 4.1% in the third quarter. TIAA CREF Investment Management LLC now owns 500,654 shares of the company’s stock valued at $19,551,000 after buying an additional 19,881 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Eaton Vance Corp by 0.5% in the third quarter. BlackRock Group LTD now owns 482,206 shares of the company’s stock valued at $18,830,000 after buying an additional 2,320 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.
Eaton Vance Corp (NYSE:EV) opened at 45.52 on Tuesday. The stock’s 50 day moving average price is $44.82 and its 200-day moving average price is $41.15. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 21.17 and a beta of 1.79. Eaton Vance Corp has a 52 week low of $31.78 and a 52 week high of $47.83.
Eaton Vance Corp (NYSE:EV) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $354.95 million for the quarter, compared to analyst estimates of $351.22 million. Eaton Vance Corp had a net margin of 17.97% and a return on equity of 38.30%. Eaton Vance Corp’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. On average, equities research analysts forecast that Eaton Vance Corp will post $2.46 earnings per share for the current fiscal year.
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EV has been the topic of several research analyst reports. Zacks Investment Research upgraded Eaton Vance Corp from a “sell” rating to a “hold” rating in a research note on Thursday, December 8th. Jefferies Group LLC restated a “hold” rating and issued a $37.00 price objective on shares of Eaton Vance Corp in a research note on Wednesday, November 23rd. Bank of America Corp upgraded Eaton Vance Corp from an “underperform” rating to a “neutral” rating in a research note on Tuesday, February 21st. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Eaton Vance Corp in a research note on Thursday, January 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.48.
In other Eaton Vance Corp news, CEO Matthew J. Witkos sold 84,085 shares of Eaton Vance Corp stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $42.83, for a total transaction of $3,601,360.55. Following the completion of the transaction, the chief executive officer now owns 287,773 shares in the company, valued at approximately $12,325,317.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederick S. Marius sold 45,893 shares of Eaton Vance Corp stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $43.71, for a total value of $2,005,983.03. Following the transaction, the insider now owns 35,042 shares of the company’s stock, valued at approximately $1,531,685.82. The disclosure for this sale can be found here. Insiders have sold a total of 177,213 shares of company stock valued at $7,625,223 in the last quarter.
Eaton Vance Corp 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.
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