Principal Financial Group Inc. Has $17.02 Million Stock Position in Envestnet, Inc. (NYSE:ENV)

Principal Financial Group Inc. boosted its stake in shares of Envestnet, Inc. (NYSE:ENV) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 271,766 shares of the business services provider’s stock after purchasing an additional 22,462 shares during the period. Principal Financial Group Inc. owned 0.49% of Envestnet worth $17,018,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new stake in Envestnet in the 3rd quarter valued at $1,072,000. Geode Capital Management LLC lifted its stake in shares of Envestnet by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,134,530 shares of the business services provider’s stock worth $71,058,000 after buying an additional 9,735 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Envestnet by 11.9% during the 3rd quarter. MML Investors Services LLC now owns 31,290 shares of the business services provider’s stock worth $1,959,000 after buying an additional 3,319 shares during the period. XTX Topco Ltd grew its position in shares of Envestnet by 337.4% in the third quarter. XTX Topco Ltd now owns 23,108 shares of the business services provider’s stock valued at $1,447,000 after purchasing an additional 17,825 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Envestnet by 5.9% during the 3rd quarter. Jane Street Group LLC now owns 77,892 shares of the business services provider’s stock worth $4,878,000 after buying an additional 4,324 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on ENV. StockNews.com started coverage on shares of Envestnet in a research note on Sunday, December 22nd. They issued a “sell” rating on the stock. DA Davidson reissued a “neutral” rating and set a $63.00 target price on shares of Envestnet in a report on Wednesday, September 18th. One 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’s stock. According to data from MarketBeat.com, Envestnet currently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Stock Performance

NYSE ENV opened at $63.14 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59. Envestnet, Inc. has a fifty-two week low of $36.43 and a fifty-two week high of $73.04. The stock has a market cap of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. The firm’s fifty day moving average price is $63.01 and its two-hundred day moving average price is $62.57.

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.