Stifel Financial Corp boosted its position in Envestnet Inc (NYSE:ENV) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,577 shares of the business services provider’s stock after buying an additional 615 shares during the quarter. Stifel Financial Corp owned approximately 0.06% of Envestnet worth $1,735,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. TRUE Private Wealth Advisors acquired a new stake in Envestnet in the 2nd quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale acquired a new stake in Envestnet in the 2nd quarter valued at approximately $34,000. Marshall Wace LLP acquired a new stake in Envestnet in the 1st quarter valued at approximately $50,000. SRS Capital Advisors Inc. acquired a new position in shares of Envestnet during the 2nd quarter worth approximately $83,000. Finally, JFS Wealth Advisors LLC acquired a new position in shares of Envestnet during the 2nd quarter worth approximately $96,000. 96.39% of the stock is currently owned by institutional investors and hedge funds.
NYSE:ENV opened at $71.50 on Friday. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 57.20, a price-to-earnings-growth ratio of 3.07 and a beta of 1.76. Envestnet Inc has a twelve month low of $46.57 and a twelve month high of $73.94. The stock’s 50 day moving average price is $66.11 and its two-hundred day moving average price is $64.37. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.56.
Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $236.08 million for the quarter, compared to analyst estimates of $233.02 million. Envestnet had a positive return on equity of 8.44% and a negative net margin of 2.35%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, analysts anticipate that Envestnet Inc will post 1.33 earnings per share for the current year.
In other news, Director Anil Arora sold 4,476 shares of Envestnet stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.90, for a total transaction of $290,492.40. Following the completion of the transaction, the director now directly owns 28,104 shares in the company, valued at approximately $1,823,949.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter D’arrigo sold 10,000 shares of Envestnet stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $69.91, for a total value of $699,100.00. Following the transaction, the chief financial officer now owns 62,747 shares of the company’s stock, valued at $4,386,642.77. The disclosure for this sale can be found here. Insiders have sold a total of 85,374 shares of company stock worth $5,573,486 in the last ninety days. Insiders own 4.97% of the company’s stock.
Several research analysts have weighed in on the company. DA Davidson raised Envestnet from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, October 1st. Sandler O’Neill raised Envestnet from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $80.00 in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $75.44.
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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