State of Alaska Department of Revenue cut its holdings in shares of Eaton Vance Corp (NYSE:EV) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,275 shares of the asset manager’s stock after selling 1,185 shares during the quarter. State of Alaska Department of Revenue’s holdings in Eaton Vance were worth $1,537,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Mount Yale Investment Advisors LLC bought a new stake in shares of Eaton Vance in the 1st quarter valued at approximately $103,000. Clarus Wealth Advisors bought a new stake in shares of Eaton Vance in the 2nd quarter valued at approximately $131,000. Cerebellum GP LLC increased its holdings in shares of Eaton Vance by 525.0% in the 3rd quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock valued at $175,000 after acquiring an additional 2,793 shares during the last quarter. Sit Investment Associates Inc. increased its holdings in shares of Eaton Vance by 44.3% in the 2nd quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Korea Investment CORP bought a new stake in shares of Eaton Vance in the 2nd quarter valued at approximately $193,000. Institutional investors own 68.35% of the company’s stock.
Shares of EV opened at $45.47 on Friday. The firm has a market cap of $5.56 billion, a P/E ratio of 18.33, a P/E/G ratio of 0.79 and a beta of 1.64. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.14. Eaton Vance Corp has a 12 month low of $45.40 and a 12 month high of $60.95.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.35 per share. This is an increase from Eaton Vance’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Tuesday, October 30th. Eaton Vance’s dividend payout ratio is presently 50.00%.
In related news, Director Brian D. Langstraat sold 13,000 shares of the company’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $47.50, for a total transaction of $617,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Citigroup lowered their price target on Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a report on Thursday, August 30th. ValuEngine downgraded Eaton Vance from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Deutsche Bank lowered their price objective on Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.31.
Eaton Vance Company 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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