TRUE Private Wealth Advisors Takes Position in Envestnet Inc (NYSE:ENV)

TRUE Private Wealth Advisors purchased a new position in Envestnet Inc (NYSE:ENV) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 400 shares of the business services provider’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ENV. Principal Financial Group Inc. grew its stake in shares of Envestnet by 19.3% in the fourth quarter. Principal Financial Group Inc. now owns 26,011 shares of the business services provider’s stock worth $1,279,000 after acquiring an additional 4,210 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Envestnet by 7.9% in 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Envestnet by 19.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 434,540 shares of the business services provider’s stock worth $21,375,000 after acquiring an additional 71,411 shares during the last quarter. Norges Bank purchased a new stake in shares of Envestnet in the fourth quarter worth $25,851,000. Finally, Strs Ohio grew its stake in shares of Envestnet by 50.0% in the first quarter. Strs Ohio now owns 3,300 shares of the business services provider’s stock worth $215,000 after acquiring an additional 1,100 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

A number of research firms have recently commented on ENV. Royal Bank of Canada increased their target price on Envestnet to $71.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 9th. Raymond James increased their target price on Envestnet from $82.00 to $83.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 11th. TheStreet cut Envestnet from a “b” rating to a “c+” rating in a research note on Thursday, May 9th. Buckingham Research cut Envestnet from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. cut Envestnet from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $71.00 to $73.00 in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $73.30.

Shares of NYSE:ENV traded up $0.46 during midday trading on Friday, reaching $56.06. 320,600 shares of the company’s stock traded hands, compared to its average volume of 452,238. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 44.85, a P/E/G ratio of 2.47 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 0.54. Envestnet Inc has a one year low of $46.57 and a one year high of $73.94. The stock has a 50 day moving average of $68.19 and a 200 day moving average of $66.03.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The business had revenue of $227.90 million for the quarter, compared to the consensus estimate of $225.34 million. Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. Sell-side analysts predict that Envestnet Inc will post 1.29 EPS for the current fiscal year.

In other news, insider William Crager sold 18,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $58.13, for a total transaction of $1,075,405.00. Following the transaction, the insider now directly owns 243,512 shares of the company’s stock, valued at $14,155,352.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Joshua Mayer sold 1,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $67.54, for a total value of $67,540.00. Following the transaction, the chief operating officer now directly owns 29,417 shares in the company, valued at $1,986,824.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,564 shares of company stock worth $9,199,089. Corporate insiders own 4.97% of the company’s stock.

Envestnet Company Profile

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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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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