Russell Investments Group Ltd. Has $11.47 Million Position in Envestnet, Inc (ENV)
Russell Investments Group Ltd. raised its position in shares of Envestnet, Inc (NYSE:ENV) by 82.3% during the second quarter, Holdings Channel reports. The firm owned 289,610 shares of the business services provider’s stock after buying an additional 130,772 shares during the period. Russell Investments Group Ltd.’s holdings in Envestnet were worth $11,468,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of ENV. Trexquant Investment LP acquired a new stake in Envestnet during the first quarter worth about $1,486,000. Pioneer Investment Management Inc. acquired a new stake in Envestnet during the first quarter worth about $2,807,000. Parametric Portfolio Associates LLC boosted its stake in Envestnet by 116.6% in the first quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock worth $2,506,000 after buying an additional 41,761 shares during the period. CI Investments Inc. acquired a new stake in Envestnet during the first quarter worth about $194,000. Finally, Van Berkom & Associates Inc. boosted its stake in Envestnet by 24.9% in the first quarter. Van Berkom & Associates Inc. now owns 1,519,842 shares of the business services provider’s stock worth $49,091,000 after buying an additional 303,286 shares during the period.
Envestnet, Inc (NYSE ENV) traded up 1.815% during trading on Monday, hitting $43.475. 115,392 shares of the stock were exchanged. The stock’s market cap is $1.91 billion. The firm’s 50 day moving average price is $39.29 and its 200-day moving average price is $36.77. Envestnet, Inc has a 1-year low of $30.80 and a 1-year high of $45.18.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by $0.01. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. On average, analysts anticipate that Envestnet, Inc will post $1.27 EPS for the current year.
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A number of analysts have issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $52.00 target price (up from $45.00) on shares of Envestnet in a research note on Thursday. DA Davidson assumed coverage on shares of Envestnet in a research note on Thursday, July 6th. They issued a “neutral” rating and a $42.00 target price for the company. BidaskClub cut shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. William Blair reiterated a “buy” rating on shares of Envestnet in a research note on Wednesday, June 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Envestnet in a research note on Friday, July 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $45.50.
In related news, Director Charles Roame acquired 1,473 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $35.38 per share, with a total value of $52,114.74. Following the acquisition, the director now owns 1,729 shares in the company, valued at approximately $61,172.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Grinis sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $39.21, for a total value of $588,150.00. Following the completion of the sale, the insider now directly owns 226,454 shares of the company’s stock, valued at approximately $8,879,261.34. The disclosure for this sale can be found here. In the last three months, insiders sold 32,972 shares of company stock valued at $1,300,284. 5.58% of the stock is currently owned by insiders.
Envestnet Company Profile
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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