Metropolitan Life Insurance Co NY cut its position in Envestnet Inc (NYSE:ENV) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,168 shares of the business services provider’s stock after selling 280 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Envestnet were worth $926,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ENV. Marshall Wace LLP bought a new position in Envestnet in the 1st quarter valued at about $50,000. Advisors Asset Management Inc. bought a new stake in shares of Envestnet during the 4th quarter valued at approximately $58,000. Bank of Montreal Can grew its holdings in shares of Envestnet by 23.5% during the 4th quarter. Bank of Montreal Can now owns 1,410 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 268 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in Envestnet by 37.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,375 shares of the business services provider’s stock worth $90,000 after acquiring an additional 375 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Envestnet by 27.3% during the 1st quarter. Huntington National Bank now owns 1,543 shares of the business services provider’s stock worth $101,000 after acquiring an additional 331 shares during the last quarter. Institutional investors own 94.20% of the company’s stock.
ENV traded up $0.89 on Thursday, reaching $72.66. The company had a trading volume of 222,600 shares, compared to its average volume of 274,496. The business has a 50 day moving average of $69.32. The stock has a market capitalization of $3.51 billion, a P/E ratio of 58.13, a price-to-earnings-growth ratio of 3.17 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.03 and a current ratio of 1.03. Envestnet Inc has a 52-week low of $46.57 and a 52-week high of $73.22.
In other Envestnet news, CEO Judson Bergman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $69.91, for a total transaction of $1,048,650.00. Following the completion of the sale, the chief executive officer now directly owns 812,099 shares in the company, valued at approximately $56,773,841.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stuart Depina sold 4,805 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $71.21, for a total value of $342,164.05. Following the transaction, the insider now owns 44,512 shares of the company’s stock, valued at $3,169,699.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,369 shares of company stock worth $6,296,322. 4.97% of the stock is currently owned by company insiders.
ENV has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a “sell” rating in a research report on Tuesday, April 9th. TheStreet downgraded shares of Trade Desk from a “b-” rating to a “c-” rating in a report on Thursday, May 9th. Royal Bank of Canada upped their price objective on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a “sector perform” rating in a report on Thursday, May 9th. DA Davidson lowered shares of Envestnet from a “buy” rating to a “neutral” rating and upped their target price for the stock from $64.00 to $67.00 in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Finally, Raymond James reiterated a “hold” rating on shares of PrairieSky Royalty in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Envestnet has a consensus rating of “Buy” and a consensus target price of $73.30.
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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