Berkshire Asset Management LLC PA Acquires New Stake in Eaton Vance Corp (EV)

Berkshire Asset Management LLC PA acquired a new position in Eaton Vance Corp (NYSE:EV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,151 shares of the asset manager’s stock, valued at approximately $234,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. raised its stake in shares of Eaton Vance by 437.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,031 shares of the asset manager’s stock worth $100,000 after buying an additional 1,653 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Eaton Vance by 33.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,421,942 shares of the asset manager’s stock worth $218,311,000 after buying an additional 1,113,748 shares during the period. Crestline Management LP acquired a new position in shares of Eaton Vance during the 3rd quarter worth approximately $1,820,000. First Trust Advisors LP raised its stake in shares of Eaton Vance by 11.0% during the 3rd quarter. First Trust Advisors LP now owns 128,516 shares of the asset manager’s stock worth $6,345,000 after buying an additional 12,764 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Eaton Vance by 11.3% during the 3rd quarter. Pacer Advisors Inc. now owns 20,223 shares of the asset manager’s stock worth $998,000 after buying an additional 2,059 shares during the period. Institutional investors and hedge funds own 68.73% of the company’s stock.

In other Eaton Vance news, Director Dorothy E. Puhy sold 5,953 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $51.08, for a total value of $304,079.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Payson F. Swaffield sold 71,739 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $51.81, for a total value of $3,716,797.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,182 shares of company stock valued at $6,103,677.

EV has been the subject of several research analyst reports. Zacks Investment Research raised Eaton Vance from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, November 2nd. Deutsche Bank began coverage on Eaton Vance in a research note on Tuesday, October 17th. They set a “buy” rating and a $57.00 target price for the company. Jefferies Group reissued a “hold” rating and issued a $46.00 price objective on shares of Eaton Vance in a research note on Thursday, October 26th. ValuEngine raised Eaton Vance from a “hold” rating to a “buy” rating in a research note on Wednesday, November 22nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $53.00 price objective on shares of Eaton Vance in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.06.

Eaton Vance Corp (EV) opened at $60.55 on Thursday. Eaton Vance Corp has a 52 week low of $41.40 and a 52 week high of $60.87. The company has a quick ratio of 5.44, a current ratio of 5.44 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $7,180.00, a price-to-earnings ratio of 25.02, a P/E/G ratio of 0.91 and a beta of 1.90.

Eaton Vance (NYSE:EV) last posted its quarterly earnings data on Tuesday, November 21st. The asset manager reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The firm had revenue of $405.70 million during the quarter, compared to analyst estimates of $407.75 million. During the same period in the prior year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. equities analysts predict that Eaton Vance Corp will post 3.28 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Tuesday, January 30th. Eaton Vance’s dividend payout ratio is currently 51.24%.

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About Eaton Vance

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.

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

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