SG Americas Securities LLC raised its position in shares of Eaton Vance Corp (NYSE:EV) by 309.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 71,589 shares of the asset manager’s stock after purchasing an additional 54,116 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of Eaton Vance worth $3,088,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in shares of Eaton Vance during the 1st quarter worth approximately $31,000. Quadrant Capital Group LLC boosted its holdings in shares of Eaton Vance by 295.2% during the 1st quarter. Quadrant Capital Group LLC now owns 913 shares of the asset manager’s stock worth $33,000 after buying an additional 682 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Eaton Vance by 127.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 901 shares of the asset manager’s stock worth $36,000 after buying an additional 504 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Eaton Vance by 155.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,411 shares of the asset manager’s stock worth $60,000 after buying an additional 859 shares in the last quarter. Finally, Strs Ohio boosted its holdings 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 buying an additional 378 shares in the last quarter. 71.60% of the stock is owned by institutional investors and hedge funds.

Shares of EV opened at $39.74 on Wednesday. Eaton Vance Corp has a 12-month low of $32.28 and a 12-month high of $54.44. The stock has a fifty day moving average price of $43.36. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 1.49. The company has a market cap of $4.53 billion, a PE ratio of 12.38, a P/E/G ratio of 2.32 and a beta of 1.58.

Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, May 21st. The asset manager reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.13. Eaton Vance had a return on equity of 35.53% and a net margin of 23.50%. The company had revenue of $411.86 million for the quarter, compared to analysts’ expectations of $411.42 million. During the same period last year, the business earned $0.77 EPS. Eaton Vance’s quarterly revenue was down .2% compared to the same quarter last year. Analysts anticipate that Eaton Vance Corp will post 3.36 earnings per share for the current fiscal year.

Eaton Vance declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 10th that authorizes the company to buyback 8,000,000 outstanding shares. This buyback authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, July 30th. Eaton Vance’s dividend payout ratio is currently 43.61%.

In other Eaton Vance news, Director Leo I. Higdon, Jr. sold 4,883 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $44.32, for a total transaction of $216,414.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brian D. Langstraat sold 3,772 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $43.89, for a total value of $165,553.08. The disclosure for this sale can be found here.

A number of equities analysts have issued reports on EV shares. Credit Suisse Group started coverage on Eaton Vance in a report on Wednesday, June 12th. They set a “neutral” rating and a $44.00 price target on the stock. ValuEngine cut Eaton Vance from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Eaton Vance from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Friday, May 24th. Finally, Bank of America cut Eaton Vance from a “buy” rating to an “underperform” rating in a report on Monday, May 20th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Eaton Vance currently has a consensus rating of “Hold” and an average target price of $42.00.

Eaton Vance 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.

Recommended Story: What causes a recession?

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

Receive News & Ratings for Eaton Vance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Vance and related companies with MarketBeat.com's FREE daily email newsletter.