Envestnet, Inc. (NYSE:ENV) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 28.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,346 shares of the business services provider’s stock after selling 8,297 shares during the period. The Manufacturers Life Insurance Company’s holdings in Envestnet were worth $1,337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENV. Innealta Capital LLC acquired a new position in Envestnet during the second quarter worth $46,000. Longfellow Investment Management Co. LLC acquired a new position in Envestnet during the third quarter worth $71,000. Quest Partners LLC grew its holdings in Envestnet by 6,220.8% in the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 1,493 shares during the last quarter. SG Americas Securities LLC grew its holdings in Envestnet by 54.2% in the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 945 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 1,200 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com assumed coverage on Envestnet in a report on Friday, December 6th. They issued a “sell” rating on the stock. DA Davidson reissued a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.88.

Envestnet Stock Performance

NYSE ENV opened at $63.14 on Wednesday. The business’s 50-day moving average price is $62.89 and its 200 day moving average price is $62.77. Envestnet, Inc. has a twelve month low of $36.43 and a twelve month high of $73.04. The company has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07.

Envestnet Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.