Norges Bank bought a new stake in shares of Envestnet Inc (NYSE:ENV) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 525,523 shares of the business services provider’s stock, valued at approximately $25,851,000. Norges Bank owned 1.15% of Envestnet as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Envestnet by 19.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 434,540 shares of the business services provider’s stock worth $21,375,000 after purchasing an additional 71,411 shares during the last quarter. Amalgamated Bank bought a new position in Envestnet during the fourth quarter worth about $319,000. Legal & General Group Plc lifted its holdings in Envestnet by 7.9% during the fourth quarter. Legal & General Group Plc now owns 17,292 shares of the business services provider’s stock worth $851,000 after acquiring an additional 1,262 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Envestnet by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 63,323 shares of the business services provider’s stock worth $3,115,000 after acquiring an additional 233 shares in the last quarter. Finally, Globeflex Capital L P lifted its holdings in Envestnet by 296.8% during the fourth quarter. Globeflex Capital L P now owns 18,664 shares of the business services provider’s stock worth $918,000 after acquiring an additional 13,960 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.
In other Envestnet news, insider Stuart Depina sold 18,168 shares of Envestnet stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $65.13, for a total value of $1,183,281.84. Following the sale, the insider now owns 50,968 shares of the company’s stock, valued at approximately $3,319,545.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anil Arora sold 567 shares of Envestnet stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $54.74, for a total value of $31,037.58. Following the completion of the sale, the insider now directly owns 64,745 shares in the company, valued at approximately $3,544,141.30. The disclosure for this sale can be found here. Insiders sold a total of 72,505 shares of company stock worth $4,645,164 in the last three months. Company insiders own 5.49% of the company’s stock.
Several research analysts have weighed in on ENV shares. Zacks Investment Research upgraded Envestnet from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. ValuEngine upgraded Envestnet from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. William Blair reiterated an “outperform” rating on shares of Envestnet in a report on Thursday, March 14th. UBS Group reduced their target price on Envestnet from $67.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, January 8th. Finally, JMP Securities lifted their target price on Envestnet from $67.00 to $72.00 and gave the stock a “market outperform” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $69.67.
ENV opened at $69.67 on Friday. Envestnet Inc has a 1 year low of $46.57 and a 1 year high of $69.95. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 54.86, a PEG ratio of 2.83 and a beta of 1.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 1.11.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.18. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. The firm had revenue of $210.08 million for the quarter, compared to the consensus estimate of $210.52 million. On average, analysts expect that Envestnet Inc will post 1.51 EPS for the current fiscal year.
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Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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