Huntington National Bank lessened its holdings in shares of Envestnet, Inc. (NYSE:ENV – Free Report) by 17.4% in the third quarter, Holdings Channel.com reports. The fund owned 1,053 shares of the business services provider’s stock after selling 222 shares during the period. Huntington National Bank’s holdings in Envestnet were worth $66,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENV. Engaged Capital LLC raised its holdings in Envestnet by 479.8% in the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after purchasing an additional 573,049 shares in the last quarter. Vanguard Group Inc. boosted its position in Envestnet by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock valued at $353,166,000 after acquiring an additional 83,081 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after acquiring an additional 73,751 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Envestnet by 45.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after acquiring an additional 48,057 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Envestnet in the 2nd quarter worth approximately $2,482,000.
Analysts Set New Price Targets
ENV has been the topic of several recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. StockNews.com initiated coverage on shares of Envestnet in a research note on Tuesday, November 12th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.88.
Envestnet Price Performance
ENV opened at $63.09 on Tuesday. Envestnet, Inc. has a 1 year low of $36.43 and a 1 year high of $73.04. The stock has a 50-day moving average price of $62.72 and a 200-day moving average price of $63.11. The firm has a market cap of $3.49 billion, a PE ratio of -13.22 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 1.14.
About Envestnet
Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.
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