Lazard Asset Management LLC Invests $14.75 Million in Eaton Vance Corp (NYSE:EV) Stock

Lazard Asset Management LLC bought a new position in shares of Eaton Vance Corp (NYSE:EV) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 365,932 shares of the asset manager’s stock, valued at approximately $14,750,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Lindbrook Capital LLC bought a new position in Eaton Vance during the 4th quarter valued at $31,000. Penserra Capital Management LLC bought a new position in Eaton Vance during the 1st quarter valued at $31,000. Quadrant Capital Group LLC boosted its stake in Eaton Vance by 295.2% during the 1st 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 in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Eaton Vance by 3,313.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,189,498 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 2,125,364 shares in the last quarter. Finally, Strs Ohio boosted its stake in Eaton Vance by 28.5% during the 1st quarter. Strs Ohio now owns 1,706 shares of the asset manager’s stock valued at $68,000 after purchasing an additional 378 shares in the last quarter. 70.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of Eaton Vance stock opened at $41.19 on Friday. The firm has a market capitalization of $4.69 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 2.33 and a beta of 1.57. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 1.49. Eaton Vance Corp has a 12 month low of $32.28 and a 12 month high of $55.24.

Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, May 21st. The asset manager reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.13. The business had revenue of $411.86 million during the quarter, compared to analysts’ expectations of $411.42 million. Eaton Vance had a return on equity of 35.53% and a net margin of 23.50%. Eaton Vance’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. As a group, analysts predict that Eaton Vance Corp will post 3.33 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 3.40%. Eaton Vance’s dividend payout ratio (DPR) is presently 43.61%.

In related news, Director Brian D. Langstraat sold 7,740 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $41.76, for a total transaction of $323,222.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

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

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