Eaton Vance Tax Managed Diversified Eq. (ETY) Declares $0.08 Monthly Dividend

Judith Bessette
Agosto 13, 2017

Eaton Vance Corporation's payout ratio is presently 49.34%. The institutional investor owned 71,662 shares of the asset manager's stock after selling 3,553 shares during the period. Alpha Cubed Investments LLC now owns 64,813 shares of the financial services provider's stock worth $594,000 after buying an additional 40,325 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Eaton Vance Corporation by 34.3% in the second quarter. TrimTabs Asset Management LLC now owns 2,705 shares of the asset manager's stock worth $122,000 after buying an additional 1,272 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Eaton Vance Corporation by 4.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,901 shares of the asset manager's stock worth $130,000 after buying an additional 501 shares during the last quarter.

COPYRIGHT VIOLATION NOTICE: "Eaton Vance Tax Managed Diversified Eq". The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 20.75 and a beta of 1.84. The company has a 50 day moving average of $48.14 and a 200 day moving average of $45.82. Eaton Vance Municipal Bond Fund has a 52 week low of $12.00 and a 52 week high of $14.15. The asset manager reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The company had revenue of $374.60 million for the quarter, compared to analysts' expectations of $373.28 million. Eaton Vance Corporation had a net margin of 18.39% and a return on equity of 36.63%. Eaton Vance Corporation's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter past year, the company posted $0.48 EPS. On average, equities research analysts forecast that Eaton Vance Corporation will post $2.55 earnings per share for the current year.

The ex-dividend date of this dividend is Tuesday, August 22nd. Investors of record on Monday, July 31st will be given a dividend of $0.28 per share. This represents a $0.97 annualized dividend and a yield of 6.97%. (NYSE:ETY) declared a monthly dividend on Tuesday, August 1st, Zacks reports. The company now has a consensus rating of Hold and an average target price of $49.93.

WARNING: This story was posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. Norges Bank acquired a new stake in shares of Eaton Vance Corporation during the fourth quarter worth about $43,128,000. If you are reading this news story on another publication, it was copied illegally and republished in violation of worldwide trademark & copyright legislation. The legal version of this news story can be read at https://www.themarketsdaily.com/2017/08/13/eaton-vance-corporation-ev-given-new-50-00-price-target-at-credit-suisse-group.html.

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A number of research analysts have issued reports on the stock. J P Morgan Chase & Co reiterated an underweight rating and issued a $47.00 price objective (up previously from $40.00) on shares of Eaton Vance Corporation in a report on Tuesday, June 6th.

Separately, Stifel Nicolaus cut shares of Eaton Vance Tax Managed Diversified Eq. from a "buy" rating to a "hold" rating in a research note on Monday, June 26th. Accern also gave press coverage about the company an impact score of 47.7616606327275 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company's share price in the near term. Credit Suisse Group raised their price objective on Eaton Vance Corporation from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Friday. Two investment 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.

In other news, Director Dorothy E. Puhy sold 2,563 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $48.03, for a total transaction of $1,051,136.55. Following the transaction, the director now directly owns 14,473 shares in the company, valued at $701,361.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The shares were sold at an average price of $48.46, for a total value of $124,202.98. Following the completion of the transaction, the chief executive officer now directly owns 243,688 shares of the company's stock, valued at $11,716,519.04. The disclosure for this sale can be found here. Puplava Financial Services Inc. now owns 145,666 shares of the financial services provider's stock worth $1,336,000 after buying an additional 134,720 shares in the last quarter.

Eaton Vance Limited Duration Income Fund (the Fund) is a diversified, closed-end management investment company.

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