BlueMountain Capital Management LLC raised its stake in Eaton Vance Corp (NYSE:EV) by 1,313.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,298 shares of the asset manager’s stock after purchasing an additional 19,791 shares during the period. BlueMountain Capital Management LLC’s holdings in Eaton Vance were worth $1,112,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Mount Yale Investment Advisors LLC bought a new position in shares of Eaton Vance during the 1st quarter worth about $103,000. Clarus Wealth Advisors bought a new position in Eaton Vance during the 2nd quarter valued at about $131,000. Synovus Financial Corp bought a new position in Eaton Vance during the 1st quarter valued at about $182,000. Sit Investment Associates Inc. lifted its holdings in Eaton Vance by 44.3% during the 2nd quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Korea Investment CORP bought a new position in Eaton Vance during the 2nd quarter valued at about $193,000. 68.40% of the stock is owned by hedge funds and other institutional investors.
Eaton Vance stock traded down $0.40 during midday trading on Friday, hitting $51.56. 279,734 shares of the stock were exchanged, compared to its average volume of 604,794. Eaton Vance Corp has a 52 week low of $49.63 and a 52 week high of $60.95. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 0.88 and a beta of 1.63. The company has a debt-to-equity ratio of 1.14, a current ratio of 8.35 and a quick ratio of 8.35.
Eaton Vance (NYSE:EV) last released its quarterly earnings data on Wednesday, August 29th. The asset manager reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. Eaton Vance had a net margin of 21.44% and a return on equity of 34.91%. The business had revenue of $430.60 million for the quarter, compared to analyst estimates of $430.11 million. During the same quarter last year, the firm earned $0.62 EPS. Eaton Vance’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that Eaton Vance Corp will post 3.21 EPS for the current fiscal year.
EV has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Deutsche Bank lowered their price objective on shares of Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, September 27th. Finally, Citigroup lowered their price objective on shares of Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a research report on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $58.31.
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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