Amalgamated Bank trimmed its position in shares of Envestnet, Inc. (NYSE:ENV – Get Rating) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,940 shares of the business services provider's stock after selling 1,768 shares during the period. Amalgamated Bank owned 0.07% of Envestnet worth $2,750,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in Envestnet by 2.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider's stock valued at $616,000 after purchasing an additional 198 shares during the period. Envestnet Asset Management Inc. grew its holdings in Envestnet by 0.6% during the first quarter. Envestnet Asset Management Inc. now owns 41,017 shares of the business services provider's stock valued at $3,053,000 after purchasing an additional 226 shares during the period. PNC Financial Services Group Inc. grew its holdings in Envestnet by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider's stock valued at $249,000 after purchasing an additional 267 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Envestnet by 2.1% during the first quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the business services provider's stock worth $1,186,000 after acquiring an additional 300 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of Envestnet by 2.5% during the first quarter. Mariner LLC now owns 12,374 shares of the business services provider's stock worth $921,000 after acquiring an additional 306 shares in the last quarter.
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Insider Buying and Selling at Envestnet
In other news, CEO William Crager purchased 920 shares of the stock in a transaction on Wednesday, June 29th. The shares were acquired at an average price of $53.79 per share, for a total transaction of $49,486.80. Following the completion of the transaction, the chief executive officer now directly owns 306,241 shares of the company's stock, valued at approximately $16,472,703.39. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Barry D. Cooper sold 1,290 shares of the firm's stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $56.43, for a total transaction of $72,794.70. Following the transaction, the senior vice president now directly owns 25,997 shares of the company's stock, valued at $1,467,010.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Crager acquired 920 shares of Envestnet stock in a transaction dated Wednesday, June 29th. The shares were bought at an average cost of $53.79 per share, for a total transaction of $49,486.80. Following the completion of the purchase, the chief executive officer now directly owns 306,241 shares of the company's stock, valued at approximately $16,472,703.39. The disclosure for this purchase can be found here. Company insiders own 1.44% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on ENV shares. Raymond James dropped their target price on Envestnet from $90.00 to $73.00 and set a "strong-buy" rating on the stock in a research report on Friday, July 8th. William Blair restated an "outperform" rating on shares of Envestnet in a research report on Monday, July 25th. Piper Sandler dropped their target price on Envestnet from $73.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, June 17th. Royal Bank of Canada dropped their target price on Envestnet from $79.00 to $67.00 and set a "sector perform" rating on the stock in a research report on Monday, August 1st. Finally, JMP Securities dropped their target price on Envestnet from $97.00 to $80.00 and set a "market outperform" rating on the stock in a research report on Tuesday, July 12th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $72.33.
Envestnet Trading Down 2.3 %
Shares of ENV stock opened at $46.66 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. Envestnet, Inc. has a 52-week low of $46.27 and a 52-week high of $85.99. The company has a market capitalization of $2.58 billion, a PE ratio of -84.83 and a beta of 1.19. The business's fifty day moving average is $54.40 and its 200 day moving average is $63.01.
Envestnet (NYSE:ENV – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. Envestnet had a positive return on equity of 7.52% and a negative net margin of 2.42%. The company had revenue of $318.90 million for the quarter, compared to the consensus estimate of $324.02 million. During the same quarter last year, the business posted $0.35 earnings per share. The firm's revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that Envestnet, Inc. will post 0.87 EPS for the current fiscal year.
Envestnet Profile
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Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.
Further Reading
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