Principal Financial Group Inc. acquired a new position in shares of Envestnet, Inc (NYSE:ENV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,002 shares of the business services provider’s stock, valued at approximately $238,000.

A number of other institutional investors also recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its position in Envestnet by 0.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 25,092 shares of the business services provider’s stock worth $994,000 after buying an additional 138 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Envestnet by 1.5% during the second quarter. Nisa Investment Advisors LLC now owns 13,610 shares of the business services provider’s stock worth $489,000 after buying an additional 200 shares in the last quarter. Legal & General Group Plc lifted its position in Envestnet by 3.9% during the second quarter. Legal & General Group Plc now owns 15,612 shares of the business services provider’s stock worth $616,000 after buying an additional 592 shares in the last quarter. Ashford Capital Management Inc. lifted its position in Envestnet by 0.3% during the first quarter. Ashford Capital Management Inc. now owns 234,429 shares of the business services provider’s stock worth $7,572,000 after buying an additional 668 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Envestnet by 2.6% during the second quarter. Rhumbline Advisers now owns 49,423 shares of the business services provider’s stock worth $1,957,000 after buying an additional 1,237 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

In related news, insider Anil Arora sold 8,980 shares of Envestnet stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $359,200.00. Following the completion of the transaction, the insider now directly owns 68,609 shares in the company, valued at $2,744,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $39.20, for a total value of $29,243.20. Following the completion of the transaction, the director now owns 801 shares of the company’s stock, valued at $31,399.20. The disclosure for this sale can be found here. Insiders sold 40,944 shares of company stock worth $1,933,230 over the last three months. 5.58% of the stock is currently owned by corporate insiders.

Shares of Envestnet, Inc (NYSE ENV) opened at 53.25 on Tuesday. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $55.15. The firm has a 50-day moving average price of $48.64 and a 200-day moving average price of $40.27. The stock’s market cap is $2.34 billion.

Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $164.04 million. Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. On average, analysts anticipate that Envestnet, Inc will post $1.29 EPS for the current fiscal year.

A number of equities analysts recently commented on ENV shares. DA Davidson started coverage on Envestnet in a research report on Thursday, July 6th. They set a “neutral” rating and a $42.00 price objective on the stock. Zacks Investment Research upgraded Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Tuesday, July 11th. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Envestnet in a research report on Friday, July 14th. William Blair reiterated a “buy” rating on shares of Envestnet in a research report on Wednesday, June 28th. Finally, BidaskClub downgraded Envestnet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.25.

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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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