First Trust Advisors LP Increases Stake in Envestnet Inc (ENV)

First Trust Advisors LP boosted its holdings in Envestnet Inc (NYSE:ENV) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,889 shares of the business services provider’s stock after purchasing an additional 6,993 shares during the period. First Trust Advisors LP owned about 0.14% of Envestnet worth $2,985,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ENV. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Envestnet by 133.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after purchasing an additional 1,591 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Envestnet in the fourth quarter valued at about $175,000. Zions Bancorporation purchased a new position in Envestnet in the third quarter valued at about $181,000. First Republic Investment Management Inc. purchased a new position in Envestnet in the third quarter valued at about $204,000. Finally, Turner Investments LLC purchased a new position in Envestnet in the third quarter valued at about $230,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Shares of Envestnet stock traded down $0.80 during midday trading on Thursday, reaching $58.95. The company’s stock had a trading volume of 72,243 shares, compared to its average volume of 245,270. Envestnet Inc has a 12-month low of $30.80 and a 12-month high of $60.28. The firm has a market capitalization of $2,629.82, a PE ratio of -597.44, a P/E/G ratio of 2.98 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Envestnet had a positive return on equity of 9.93% and a negative net margin of 0.48%. The firm had revenue of $182.86 million for the quarter, compared to analysts’ expectations of $179.20 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Envestnet’s revenue for the quarter was up 17.6% compared to the same quarter last year. research analysts anticipate that Envestnet Inc will post 1.31 EPS for the current fiscal year.

Separately, Zacks Investment Research downgraded Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $55.00.

In other Envestnet news, insider Anil Arora sold 557 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $57.40, for a total transaction of $31,971.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Joshua Mayer sold 30,800 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $52.06, for a total value of $1,603,448.00. Following the sale, the chief operating officer now owns 51,207 shares in the company, valued at approximately $2,665,836.42. The disclosure for this sale can be found here. Insiders have sold 67,202 shares of company stock worth $3,587,267 in the last 90 days. 5.58% of the stock is currently owned by insiders.

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About Envestnet

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.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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