Bank of New York Mellon Corp boosted its stake in Eaton Vance Corporation (NYSE:EV) by 34.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,308,194 shares of the asset manager’s stock after buying an additional 844,813 shares during the period. Bank of New York Mellon Corp owned approximately 2.99% of Eaton Vance Corporation worth $156,544,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TrimTabs Asset Management LLC boosted its stake in shares of Eaton Vance Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager’s stock valued at $122,000 after buying an additional 1,272 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Eaton Vance Corporation by 20.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager’s stock valued at $130,000 after buying an additional 501 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Eaton Vance Corporation by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager’s stock valued at $127,000 after buying an additional 148 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Eaton Vance Corporation by 131.9% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the asset manager’s stock valued at $150,000 after buying an additional 1,900 shares during the last quarter. Finally, Neuburgh Advisers LLC boosted its stake in shares of Eaton Vance Corporation by 25.8% in the first quarter. Neuburgh Advisers LLC now owns 3,744 shares of the asset manager’s stock valued at $168,000 after buying an additional 768 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Shares of Eaton Vance Corporation (NYSE:EV) opened at 46.58 on Tuesday. The stock has a market capitalization of $5.16 billion, a PE ratio of 20.42 and a beta of 1.84. Eaton Vance Corporation has a 12 month low of $34.44 and a 12 month high of $50.10. The stock’s 50 day moving average is $48.16 and its 200 day moving average is $46.07.

Eaton Vance Corporation (NYSE:EV) last posted its quarterly earnings results on Wednesday, May 24th. The asset manager reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $374.60 million for the quarter, compared to the consensus estimate of $373.28 million. Eaton Vance Corporation had a net margin of 18.39% and a return on equity of 36.63%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. Analysts anticipate that Eaton Vance Corporation will post $2.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, July 27th. Eaton Vance Corporation’s dividend payout ratio is currently 49.34%.

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Several brokerages have commented on EV. BidaskClub cut shares of Eaton Vance Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. J P Morgan Chase & Co restated an “underweight” rating and set a $47.00 target price (up from $40.00) on shares of Eaton Vance Corporation in a research report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Eaton Vance Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Thursday, June 8th. Bank of America Corporation upped their target price on shares of Eaton Vance Corporation from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. upped their target price on shares of Eaton Vance Corporation from $46.50 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.07.

In other news, insider Jeffrey P. Beale sold 39,343 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $48.30, for a total value of $1,900,266.90. Following the transaction, the insider now directly owns 343,509 shares of the company’s stock, valued at $16,591,484.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dorothy E. Puhy sold 2,563 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $48.46, for a total transaction of $124,202.98. Following the completion of the transaction, the director now directly owns 14,473 shares in the company, valued at $701,361.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,943 shares of company stock worth $6,149,649.

About Eaton Vance Corporation

Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.

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

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