Eaton Vance is a US-based investment management company with a market capitalisation of just under $5 billion. Although its shares are listed on the New York Stock Exchange (NYSE), making an investment from the UK is easy.
All you need to do is open an account with an FCA broker that provides access to the American stock market, deposit some funds with your debit/credit card and then decide how many shares you wish to buy.
In this guide, we walk you through the process of how to buy Eaton Vance shares online in the UK. We’ll also discuss the best UK stock brokers to do this with.
- 1 Step 1: Find a UK Stock Broker to Buy Eaton Vance Shares
- 2 Step 2: Research Eaton Vance Shares
- 3 What is Eaton Vance?
- 4 Eaton Vance Share Price History
- 5 Eaton Vance Shares Dividend Information
- 6 Should I Buy Eaton Vance Shares?
- 7 Step 3: Open an Account and Deposit Funds
- 8 Step 4: Trade or Buy Eaton Vance Shares
- 9 Eaton Vance Shares Buy or Sell?
- 10 The Verdict?
- 11 eToro – Buy Eaton Vance Shares With Zero Commission
- 12 FAQs
In order to buy Eaton Vance shares online in the UK, you will first need to open an account with a trusted brokerage platform. There are hundreds of such as platforms available to UK residents – most of which are regulated by the FCA.
With that said, you need to look at a range of factors before signing up – such as how much the broker charges to buy US stocks, what payment methods are accepted, and whether or not your funds are safe.
To help clear the mist, below you will find two of the best UK stock brokers that allow you to buy, sell, and trade Eaton Vance shares.
1. eToro – Buy Eaton Vance With Zero Commission
eToro is, in our view, the best UK stock broker to buy Eaton Vance shares from. First and foremost, opening an account with the platform takes minutes – and you can complete the process online or via your mobile phone. Depositing funds is just as seamless as eToro supports a full selection of UK payment methods. This includes debit/credit cards, e-wallets like Paypal and Skrill, and a good old bank transfer.
Once you are set up at eToro, you will have access to over 1,700+ shares. This covers 17 different stock exchanges – including the NYSE. As such, you can buy Eaton Vance shares at the click of a button. Best of all, eToro is a 100% commission-free broker. This is hugely attractive, as most brokers charge a heavy premium to buy non-UK stocks. In terms of minimums, eToro requires a deposit of $200 (about £160) or more. With with that said, you can buy just $50 worth of Eaton Vance shares (about £40).
What we also like about eToro is that you can copy other investors. That is to say, once you find an experience eToro trader that you like the look of, not only can you copy their currency portfolio – but all ongoing positions. Outside of its stocks and shares department, eToro also offers ETFs and cryptocurrencies. You can also trade CFDs at the platform – with supported assets including indices, stocks, hard metals, energies, and US Treasuries.
eToro also offers a fully-fledged mobile app – which is available to download free of charge on iOS and Android devices. This means that you can buy and sell Eaton Vance shares no matter where you are. When it comes to the safety of your funds, eToro is licensed by the Financial Conduct Authority (FCA). The platform is also partnered with the Financial Services Compensation Scheme (FSCS). This means that the first £85,000 of your balance would be protected in the event of a brokerage collapse.
75% of retail investor accounts lose money when trading CFDs with this provider.
2. IG – Trusted UK Broker With Over 10,000+ Shares
IG is a trusted brokerage house that has been offering share dealing services since the 1970s. Today, the online platform offers over 10,000 shares, ETFs, and investment trusts. Regarding its stock library, you will have access to dozens of UK and international markets – including that of the NYSE. In terms of fees, IG will initially charge you £10 per trade to buy Eaton Vance shares.
Although this is expensive, you can get your US share dealing fees to zero. In order to benefit from this, you simply need to place three or more trades in the prior month. This particular pricing schedule will be ideal for those of you that plan to buy, sell, and trade assets on a regular basis. It is also worth noting that IG allows you to trade Eaton Vance shares in the form of CFDs. This comes with several perks – such as being able to apply leverage.
UK retail clients can apply as much as 1:5 on stock CFDs, so a £1,000 account balance would permit a maximum trade of £5,000. Additionally, going the CFD route means that you can also short-sell Eaton Vance shares. This is ideal if you think that the price of the shares is overvalued. In terms of fees, IG charges $0.02 per stock when trading US share CFDs. This does, however, come at a minimum of $15.
When it comes to the trading suite itself, the share dealing platform can be accessed online or via your mobile phone. If you’re to engage in short-term trading, IG also supports the third-party platform MT4. If you like the sound of IG, the broker requires a minimum deposit of £250. The platform supports debit cards and bank transfers – which come fee-free. You can also deposit with a credit card, but a fee of 0.5% and 1% will apply when using MasterCard or Visa, respectively.
- Trusted UK broker with a long-standing reputation
- Good value share dealing services
- Leverage and short-selling also available
- Spread betting and CFD products
- Access to the UK and international markets
- Great research department
- A minimum deposit of £250
- US stocks have a $15 minimum commission
Your capital is at risk
Seasoned investors that have a long-standing track record of making consistent gains do so because they dedicate lots of time to research. This is crucial, as you should never buy shares just because a third-party commentator tells you to, whether you’re investing in Eaton Vance or similar companies like Legal and General. With this in mind, we would suggest you read through the following sections on Eaton Vance.
We cover some background on what the firm does, how its shares have performed in recent years, and ultimately – whether or not it resembles a viable investment.
What is Eaton Vance?
Launched way back in 1924, Eaton Vance is a US-based investment management company. This includes wealth management solutions and investment strategies for both financial institutions and individual investors. Since 2014, the firm has also been offering exchange-traded funds – as per its SEC approval.
As per its Q4 2019 filing, Eaton Vance has just under $500 billion worth of assets under management. In buying Eaton Vance shares, you are speculating on the long-term performance of the company. That is to say, there will be a direct correlation between the operating revenue and profit the firm is able to deliver with that of the value of your shares.
Eaton Vance is one of the oldest publicly-traded companies in the US – with its NYSE initial public offering (IPO) taking place in 1959. Going back 25 years, Eaton Vance shares would have cost you just $6 in 1995. The shares have gone through a somewhat volatile journey since then, with various bull and bear cycles along the way.
With that said, the Eaton Vance shares hit all-time highs in 2018 at just over $60 per stock. This represents a 900% increase in 25 years. In comparison to the S&P 500 Index during the same period – which is a great way to gauge the performance of the wider US markets, Eaton Vance has returned stockholder more than twice amount of the growth.
However, Eaton Vance shares have dropped off since their 2018 heights – hitting lows of $33 by the end of the year. The trend then began to reverse in 2019 – where the upward trajectory continued until the coronavirus pandemic seel-off begun in February 2020. In the space of less than one month, the shares went from $50 down just $27 – a decline of more than 46%.
The good news for investors is that Eaton Vance shares have since recovered to $40 per stock – as of October 2020. In simple terms, this means that the stocks have a further 25% increase to go before they reach pre-pandemic levels.
Eaton Vance Stock Split
It is important to note that the above share price history is based on the 5 stock splits that Eaton Vance has initiated.
- 2-for-1 split in 1992
- 2-for-1 split in 1997
- 2-for-1 split in 1998
- 2-for-1 split in 2000
- 2-for-1 split in 2005
As per the above, those holding 100 shares when Eaton Vance first went public would now be in possession of 3,200 shares.
If you’re looking to add some strong and stable dividend stocks to your share portfolio – it’s well worth considering Eaton Vance. This dividend giant has been making distributions for the past 28 years. At the time of writing in the first week of October 2020 – its most recent dividend returns a yield of 3.81%. This very competitive – especially when you consider the number of blue chip stocks that have either cut or suspended dividend payments as a result of the pandemic.
Although looking at the historical price action of a stock is important, the main focus should be on what the short-term and long-term future holds for Eaton Vance. As such, below we outline some of the good and bad points facing the company – and how this might influence the future direction of its shares.
No Dividend Cut or Suspension
First and foremost, it is important to remember that scores of NYSE and NASDAQ-listed stocks were forced to cut or suspend their dividend payments in Q2 and Q3. In most cases, this was with the view of consolidating much-needed cash flows to weather the coronavirus storm.
However, no such cut/suspension has so far been implemented by the Eaton Vance board – which is a great sign. After all, in times of economic uncertainties – your best bet is stick with companies that possess a strong balance sheet.
Recovery From March Mass-Sell Off Has Been Good
Very few stocks managed to avoid the mass market sell-off that occurred in February/March 2020 – as per the fear and hysteria surrounding the COV-19 pandemic. In terms of Eaton Vance, its shares dropped by more than 46% in less than one month of trading. However, the good news is that the shares have recovered nicely since – with an October 2020 price of $40.
This translates into a 48% recovery in just under 7 months. The stocks need to increase by an additional 25% to get back to pre-February levels. This leaves plenty of upside potential based on current prices.
Performance Has Been Solid in Recent Years
In terms of the financials, Eaton Vance has returned earnings growth of just over 13% over the past five years. This is impressive when you consider the sector average is a smidgen over 8%. Additionally, although the firm is expected to see its earnings drop by over 4.5% this year, its sector counterparts are looking at larger losses.
Step 3: Open an Account and Deposit Funds
If you have performed sufficient research on the company and still want to proceed with an Eaton Vance share purchase – we are now going to show you what you need to do to.
To get the ball rolling, you will need to open an account with your chosen UK brokerage site. In our example, we are going to show you the process with top-rated platform eToro, although you are free to use any share dealing site of your choosing.
Head over to the eToro website (or your chosen broker) and elect to register an account. This will require you to enter some personal information and contact details – so the broker knows who you are.
- Full name
- Date of birth
- Home address
- National insurance number
- Contact details
- Username and password
As noted earlier, eToro is a heavily regulated broker. As a result, you will now be asked to upload some verification documents. This is with the view of validating your identity and home address.
All you need to do is upload the following two documents – which eToro should be able to verify within a couple of minutes.
- Passport or Driver’s License
- Recent Utility Bill or Bank Account Statement (Dated within the last 3 months)
Note: eToro allows you to deposit up to $2,250 without uploading any ID. However, this does need to be done before you make a withdrawal, so it’s best to get the process out of the way now.
There are a couple of quick points to note about eToro deposits. First and foremost, you will need to deposit at least $200 – which amounts to about £160. Secondly, the broker charges a 0.5% currency conversion fee – as you are depositing in a currency other than US dollars. Once you incur this fee, you won’t need to pay any additional FX charges when accessing US shares like Eaton Vance.
As soon as your deposit has been processed by eToro, you can proceed to buy Eaton Vance shares. To go straight to the respective trading page, all you need to do is search for ‘Eaton Vance’ at the top of the page.
On the next page, you will need to click on the ‘Trade’ button.
You will now see a ‘buy order’ box appear on the screen. This requires you to enter the amount that you wish to invest. There is no need to purchase full shares, as eToro supports fractional ownership. For example, even if the stocks are priced at $40, a $60 investment would result in your owning 1.5 shares.
With that said, you need to make sure that you invest at least $50 – as this is the minimum required at eToro. Finally, click on the ‘Set Order’ button to complete the investment process.
Note: You can only buy Eaton Vance shares during standard market hours. If you want to make the purchase outside of these hours, you will need to click on the ‘Set Order’ button. When the markets do reopen, eToro will execute your trade at the next available price.
You certainly won’t get rich with an investment in this age-old financial firm. However, if you’re looking for a strong and stable institution that has a strong balance sheet – alongside a consistent dividend policy, Eaton Vance might be what you are looking for. With that said, just make sure that you perform your own independent research prior to making an investment.
Although Eaton Vance is listed on the New York Stock Exchange exchange, buying its shares from the comfort of your home has never been easier. The most important thing is that you choose a top-rated UK brokerage firm that offers competitive fees and a solid regulatory framework.
In our view, eToro ticks all of the right boxes – not least because you can buy Eaton Vance shares without paying a single penny in fees or commissions. This FCA broker also allows you to deposit funds instantly with a UK debit/credit card or e-wallet, and opening an account takes just minutes.
Simply click the link below to get started!
75% of retail investor accounts lose money when trading CFDs with this provider.
What does Eaton Vance do?
Eaton Vance is a US-based investment management firm that also offers exchange-traded funds. Although much smaller than many of its Wall Street counterparts, Eaton Vance carries a market valuation of just under $5 billion.
What stock exchange is Eaton Vance shares listed on?
Hosting its IPO in 1959, Eaton Vance shares have been listed on the New York Stock Exchange ever since.
Do Eaton Vance shares pay dividends?
Yes, Eaton Vance has a very good track record when it comes to paying dividends. At the time of writing in the first week of October, the shares have a trialling dividend yield of 3.8%.
Has Eaton Vance done a stock split?
Yes, Eaton Vance has initiated five stock splits since it went public. Each split has been at a ratio of 2-for-1.
How do you buy shares in Eaton Vance?
All you need to do is sign up with a UK brokerage site that allows you to buy NYSE shares. Upon making a deposit, it's then just a case of choosing how many shares you want to buy.