First Mercantile Trust Co. Has $487,000 Holdings in Envestnet Inc (ENV)

First Mercantile Trust Co. cut its stake in Envestnet Inc (NYSE:ENV) by 12.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,769 shares of the business services provider’s stock after selling 1,392 shares during the period. First Mercantile Trust Co.’s holdings in Envestnet were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Envestnet by 133.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock worth $139,000 after buying an additional 1,591 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Envestnet by 5.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock worth $150,000 after buying an additional 204 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Envestnet during the 4th quarter worth approximately $175,000. Zions Bancorporation acquired a new position in shares of Envestnet during the 3rd quarter worth approximately $181,000. Finally, Personal Capital Advisors Corp acquired a new position in shares of Envestnet during the 3rd quarter worth approximately $203,000. 94.63% of the stock is owned by institutional investors.

In related news, insider Shelly O’brien sold 1,500 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $48.13, for a total value of $72,195.00. Following the completion of the transaction, the insider now directly owns 37,686 shares of the company’s stock, valued at approximately $1,813,827.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Peter D’arrigo sold 20,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $48.11, for a total value of $962,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 237,694 shares of company stock valued at $12,014,816. 7.80% of the stock is owned by corporate insiders.

Envestnet Inc (NYSE ENV) opened at $50.30 on Friday. Envestnet Inc has a 52 week low of $30.80 and a 52 week high of $55.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2,193.14, a price-to-earnings ratio of 63.46, a P/E/G ratio of 2.53 and a beta of 1.96.

ENV has been the subject of several research analyst reports. Jefferies Group upped their target price on Envestnet from $47.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Envestnet in a research note on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 target price (up from $52.00) on shares of Envestnet in a research note on Thursday, November 9th. Zacks Investment Research downgraded Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Finally, UBS Group reduced their target price on Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.00.

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Envestnet Company Profile

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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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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