Huntington National Bank Cuts Stock Holdings in Envestnet, Inc. (NYSE:ENV)

Huntington National Bank reduced its stake in Envestnet, Inc. (NYSE:ENV) by 17.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053 shares of the business services provider’s stock after selling 222 shares during the quarter. Huntington National Bank’s holdings in Envestnet were worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Envestnet during the 1st quarter worth $168,000. ProShare Advisors LLC increased its position in shares of Envestnet by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,095 shares of the business services provider’s stock valued at $585,000 after purchasing an additional 693 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Envestnet by 10.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,772 shares of the business services provider’s stock valued at $925,000 after purchasing an additional 1,460 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Envestnet by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock valued at $353,166,000 after buying an additional 83,081 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Envestnet in the 1st quarter worth approximately $228,000.

Envestnet Trading Up 0.2 %

Shares of ENV opened at $63.09 on Tuesday. The stock has a market capitalization of $3.49 billion, a P/E ratio of -13.22 and a beta of 1.25. Envestnet, Inc. has a twelve month low of $36.43 and a twelve month high of $73.04. The company has a quick ratio of 1.14, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The firm has a fifty day simple moving average of $62.72 and a two-hundred day simple moving average of $63.11.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com began coverage on shares of Envestnet in a research note on Tuesday, November 12th. They set a “sell” rating on the stock. DA Davidson reiterated a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.