Envestnet Asset Management Inc. Has $2.21 Million Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Envestnet Asset Management Inc. cut its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,426 shares of the company’s stock after selling 1,650 shares during the quarter. Envestnet Asset Management Inc.’s holdings in New Oriental Education & Technology Group were worth $2,210,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EDU. Goldman Sachs Group Inc. increased its position in shares of New Oriental Education & Technology Group by 37.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock worth $173,997,000 after buying an additional 646,122 shares during the period. WT Asset Management Ltd grew its holdings in New Oriental Education & Technology Group by 21.4% during the 2nd quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock worth $134,533,000 after acquiring an additional 304,712 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of New Oriental Education & Technology Group by 141.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock worth $117,892,000 after acquiring an additional 942,392 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of New Oriental Education & Technology Group in the 1st quarter valued at about $103,392,000. Finally, Point72 Hong Kong Ltd lifted its stake in shares of New Oriental Education & Technology Group by 81.7% in the 4th quarter. Point72 Hong Kong Ltd now owns 771,798 shares of the company’s stock valued at $56,557,000 after purchasing an additional 346,956 shares during the period.

Analysts Set New Price Targets

Separately, Citigroup lowered their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Trading Up 2.0 %

EDU opened at $80.60 on Friday. The company has a fifty day moving average price of $66.20 and a two-hundred day moving average price of $75.97. New Oriental Education & Technology Group Inc. has a 1-year low of $58.44 and a 1-year high of $98.20. The company has a market cap of $13.68 billion, a P/E ratio of 43.33 and a beta of 0.47.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. On average, research analysts forecast that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current fiscal year.

New Oriental Education & Technology Group Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, September 9th.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.