Royal Bank of Canada increased its stake in shares of Envestnet, Inc (NYSE:ENV) by 7,211.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,561 shares of the business services provider’s stock after purchasing an additional 427,631 shares during the quarter. Royal Bank of Canada owned approximately 0.98% of Envestnet worth $17,169,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of ENV. Parametric Portfolio Associates LLC grew its holdings in Envestnet by 116.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock valued at $2,506,000 after buying an additional 41,761 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Envestnet in the 1st quarter valued at about $116,000. Stifel Financial Corp grew its holdings in Envestnet by 16.2% in the 1st quarter. Stifel Financial Corp now owns 19,560 shares of the business services provider’s stock valued at $631,000 after buying an additional 2,723 shares during the period. American International Group Inc. grew its holdings in Envestnet by 5.3% in the 1st quarter. American International Group Inc. now owns 25,094 shares of the business services provider’s stock valued at $811,000 after buying an additional 1,270 shares during the period. Finally, Credit Agricole S A grew its holdings in Envestnet by 46.0% in the 1st quarter. Credit Agricole S A now owns 33,010 shares of the business services provider’s stock valued at $1,067,000 after buying an additional 10,400 shares during the period. Hedge funds and other institutional investors own 95.51% of the company’s stock.
Envestnet, Inc (ENV) opened at 53.95 on Friday. The company’s 50-day moving average price is $48.18 and its 200 day moving average price is $39.99. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $55.15. The firm’s market capitalization is $2.37 billion.
Envestnet (NYSE:ENV) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The company had revenue of $167.50 million for 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 business’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. Equities research analysts predict that Envestnet, Inc will post $1.29 earnings per share for the current year.
Several research firms have commented on ENV. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday. UBS AG restated a “buy” rating and issued a $63.00 price target (up previously from $50.00) on shares of Envestnet in a report on Monday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Envestnet in a research note on Thursday, October 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Envestnet in a research note on Tuesday, September 26th. Finally, William Blair reaffirmed an “ourperform” rating on shares of Envestnet in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $52.25.
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In other news, COO Joshua Mayer sold 1,500 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $43.66, for a total transaction of $65,490.00. Following the transaction, the chief operating officer now owns 13,796 shares of the company’s stock, valued at approximately $602,333.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $51.20, for a total value of $38,195.20. Following the transaction, the director now directly owns 801 shares in the company, valued at approximately $41,011.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,944 shares of company stock worth $1,933,230. 7.80% of the stock is currently owned by insiders.
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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