Leo I. Higdon, Jr. Sells 4,883 Shares of Eaton Vance Corp (NYSE:EV) Stock

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Eaton Vance Corp (NYSE:EV) Director Leo I. Higdon, Jr. sold 4,883 shares of Eaton Vance stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $44.32, for a total transaction of $216,414.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of EV opened at $44.37 on Friday. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 1.49. The firm has a market cap of $4.97 billion, a PE ratio of 13.23, a P/E/G ratio of 2.46 and a beta of 1.59. The firm has a fifty day moving average price of $42.01. Eaton Vance Corp has a 1 year low of $32.28 and a 1 year high of $54.44.

Eaton Vance (NYSE:EV) last announced its quarterly earnings data on Tuesday, May 21st. The asset manager reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.13. The company had revenue of $411.86 million for the quarter, compared to analysts’ expectations of $411.42 million. Eaton Vance had a net margin of 23.50% and a return on equity of 35.53%. Eaton Vance’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. On average, sell-side analysts anticipate that Eaton Vance Corp will post 3.34 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.40 annualized dividend and a yield of 3.16%. Eaton Vance’s dividend payout ratio is currently 43.61%.

A number of brokerages have recently commented on EV. Credit Suisse Group began coverage on shares of Eaton Vance in a report on Wednesday, June 12th. They issued a “neutral” rating and a $44.00 target price on the stock. Zacks Investment Research cut shares of Hammerson from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Bank of America set a $24.00 target price on shares of MakeMyTrip and gave the company a “sell” rating in a report on Monday, May 20th. Finally, ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Eaton Vance currently has an average rating of “Hold” and a consensus price target of $42.00.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brown Advisory Inc. increased its stake in Eaton Vance by 0.3% in the 4th quarter. Brown Advisory Inc. now owns 76,827 shares of the asset manager’s stock valued at $2,703,000 after buying an additional 250 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Eaton Vance by 2.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 12,976 shares of the asset manager’s stock worth $523,000 after purchasing an additional 289 shares in the last quarter. BOKF NA boosted its position in shares of Eaton Vance by 2.4% during the 4th quarter. BOKF NA now owns 14,938 shares of the asset manager’s stock worth $526,000 after purchasing an additional 355 shares in the last quarter. Strs Ohio boosted its position in shares of Eaton Vance by 28.5% during the 1st quarter. Strs Ohio now owns 1,706 shares of the asset manager’s stock worth $68,000 after purchasing an additional 378 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Eaton Vance by 0.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 62,620 shares of the asset manager’s stock worth $2,524,000 after purchasing an additional 383 shares in the last quarter. 71.75% of the stock is currently 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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