Tokio Marine Asset Management Co. Ltd. Invests $8.47 Million in Envestnet, Inc. (NYSE:ENV)

Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Envestnet, Inc. (NYSE:ENV - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 135,300 shares of the business services provider's stock, valued at approximately $8,472,000. Tokio Marine Asset Management Co. Ltd. owned 0.24% of Envestnet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENV. Innealta Capital LLC acquired a new position in shares of Envestnet during the 2nd quarter worth about $46,000. Quest Partners LLC grew its holdings in shares of Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider's stock valued at $95,000 after buying an additional 1,493 shares during the period. SG Americas Securities LLC acquired a new stake in Envestnet during the 1st quarter worth $168,000. Federated Hermes Inc. lifted its holdings in Envestnet by 80.0% during the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider's stock worth $169,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Envestnet in the second quarter valued at about $191,000.

Envestnet Stock Performance

ENV stock traded down $0.01 during midday trading on Thursday, reaching $62.96. 786,328 shares of the company were exchanged, compared to its average volume of 677,962. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -13.20 and a beta of 1.25. The business has a 50-day moving average price of $62.72 and a two-hundred day moving average price of $63.10. Envestnet, Inc. has a one year low of $35.49 and a one year high of $73.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 1.14.

Wall Street Analyst Weigh In

ENV has been the topic of a number of research reports. StockNews.com started coverage on shares of Envestnet in a research note on Tuesday. They issued a "sell" rating on the stock. Raymond James downgraded Envestnet from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $63.00 price objective on shares of Envestnet in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $61.88.

About Envestnet

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.