Principal Financial Group Inc. Buys 22,462 Shares of Envestnet, Inc. (NYSE:ENV)

Principal Financial Group Inc. grew its stake in Envestnet, Inc. (NYSE:ENV - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 271,766 shares of the business services provider's stock after buying an additional 22,462 shares during the period. Principal Financial Group Inc. owned 0.49% of Envestnet worth $17,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENV. Price T Rowe Associates Inc. MD increased its stake in Envestnet by 45.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider's stock valued at $8,968,000 after purchasing an additional 48,057 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Envestnet during the first quarter worth approximately $762,000. Natixis Advisors LLC bought a new position in shares of Envestnet in the 2nd quarter worth $718,000. Dimensional Fund Advisors LP increased its stake in Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider's stock valued at $65,057,000 after purchasing an additional 73,751 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Envestnet in the second quarter worth approximately $2,482,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ENV. DA Davidson reaffirmed a "neutral" rating and issued a $63.00 price objective on shares of Envestnet in a research report on Wednesday, September 18th. StockNews.com initiated coverage on Envestnet in a research report on Tuesday. They issued a "sell" rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Envestnet currently has a consensus rating of "Hold" and a consensus price target of $61.88.

Envestnet Stock Performance

Shares of Envestnet stock traded down $0.01 on Friday, hitting $62.95. 359,120 shares of the company traded hands, compared to its average volume of 676,525. Envestnet, Inc. has a 12-month low of $36.01 and a 12-month high of $73.04. The firm's 50-day simple moving average is $62.72 and its 200 day simple moving average is $63.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.14 and a current ratio of 0.59.

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.