Eaton Vance Corp on Friday said it will take over Calvert Investment Management, once a trailblazer in socially responsible investing that lately has struggled with customer withdrawals and mispriced bonds. Eaton Vance executives said they plan to cut some of Calvert's 95 jobs and replace stock fund managers, but said they will leave intact the advocacy mission of the $12.3 billion investment firm. "We understand these are mission-driven funds," said Eaton Vance Chief Executive Officer Thomas Faust in a telephone interview.
- Barrons.com•2 days ago
Eaton Vance (EV) is higher Friday, after agreeing to buy the business assets of Calvert Investment Management, for undisclosed terms. Citi’s William Katz and Jack Keeler reiterated a Neutral rating on the stock today following the news, but write that on first blush they like the deal, as Calvert could be fee accretive to Eaton Vance and the sustainable investing space could be a profitable area for the firm to expand.
- American City Business Journals•2 days ago
Overland Park-based Ivy Investment Management Co. is one of the first to launch brand-new hybrid investments that combine the actively managed nature of mutual funds with the tax benefits of exchange-traded funds. The structure for the new hybrid funds was created by Eaton Vance Corp., a $343 billion-asset manager based in Boston. Ivy Investments, a subsidiary of Waddell & Reed Financial Inc. (WDR), is part of a consortium of 11 asset managers around the nation who bought licenses to create NextShares funds.
Eaton Vance Corp. (EV)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||37.67 x 1500|
|Ask||37.68 x 2700|
|Day's Range||36.93 - 37.87|
|52wk Range||26.44 - 40.36|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||18.09|
|Avg Vol (3m)||669,062|
|Dividend & Yield||1.12 (3.00%)|