Principal Financial Group Inc. Has $17.02 Million Stock Position in Envestnet, Inc. (NYSE:ENV)

Principal Financial Group Inc. grew its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 9.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 271,766 shares of the business services provider’s stock after acquiring an additional 22,462 shares during the period. Principal Financial Group Inc.’s holdings in Envestnet were worth $17,018,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in Envestnet in the third quarter valued at $1,072,000. Geode Capital Management LLC grew its position in shares of Envestnet by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,134,530 shares of the business services provider’s stock valued at $71,058,000 after buying an additional 9,735 shares during the last quarter. MML Investors Services LLC raised its holdings in Envestnet by 11.9% during the 3rd quarter. MML Investors Services LLC now owns 31,290 shares of the business services provider’s stock worth $1,959,000 after purchasing an additional 3,319 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Envestnet by 337.4% in the 3rd quarter. XTX Topco Ltd now owns 23,108 shares of the business services provider’s stock worth $1,447,000 after purchasing an additional 17,825 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Envestnet by 5.9% in the 3rd quarter. Jane Street Group LLC now owns 77,892 shares of the business services provider’s stock valued at $4,878,000 after purchasing an additional 4,324 shares during the last quarter.

Envestnet Stock Performance

Shares of Envestnet stock opened at $63.14 on Friday. The business has a 50 day moving average price of $63.01 and a 200-day moving average price of $62.57. Envestnet, Inc. has a 52 week low of $36.43 and a 52 week high of $73.04. The company has a market cap of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. DA Davidson reaffirmed a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research note on Wednesday, September 18th. StockNews.com assumed coverage on Envestnet in a research note on Sunday, December 22nd. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Envestnet currently has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Company 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.