Franklin Resources Inc. Has $34.26 Million Position in Envestnet (NYSE:ENV)

Franklin Resources Inc. trimmed its holdings in shares of Envestnet (NYSE:ENV) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 687,178 shares of the business services provider’s stock after selling 4,524 shares during the period. Franklin Resources Inc. owned approximately 1.55% of Envestnet worth $34,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Envestnet by 133.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock worth $139,000 after purchasing an additional 1,591 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Envestnet in the 4th quarter worth approximately $175,000. Zions Bancorporation bought a new stake in Envestnet in the 3rd quarter worth approximately $181,000. First Republic Investment Management Inc. bought a new stake in Envestnet in the 3rd quarter worth approximately $204,000. Finally, Turner Investments LLC bought a new stake in Envestnet in the 3rd quarter worth approximately $230,000. Institutional investors own 93.21% of the company’s stock.

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ENV stock traded up $1.15 during mid-day trading on Thursday, reaching $54.30. The company had a trading volume of 176,705 shares, compared to its average volume of 249,824. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $2,397.25, a P/E ratio of 61.70, a P/E/G ratio of 2.77 and a beta of 1.76. Envestnet has a 12 month low of $33.30 and a 12 month high of $60.28.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Envestnet had a negative net margin of 0.48% and a positive return on equity of 9.93%. The firm had revenue of $182.86 million for the quarter, compared to the consensus estimate of $179.20 million. During the same period last year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. research analysts expect that Envestnet will post 1.29 EPS for the current fiscal year.

In related news, insider Anil Arora sold 7,109 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.80, for a total transaction of $389,573.20. Following the completion of the sale, the insider now owns 96,386 shares of the company’s stock, valued at $5,281,952.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shelly O’brien sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $53.06, for a total transaction of $159,180.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,767 shares of company stock worth $3,711,157. Insiders own 7.80% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Sandler O’Neill reissued a “hold” rating and set a $56.00 price objective on shares of Envestnet in a research report on Tuesday. ValuEngine raised shares of Envestnet from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Zacks Investment Research cut shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $55.11.

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Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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