Arrowstreet Capital Limited Partnership acquired a new stake in shares of Financial Engines, Inc. (NASDAQ:FNGN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 10,000 shares of the asset manager’s stock, valued at approximately $366,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in FNGN. Bank of Montreal Can grew its stake in shares of Financial Engines by 0.5% in the 2nd quarter. Bank of Montreal Can now owns 9,379 shares of the asset manager’s stock valued at $343,000 after buying an additional 47 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Financial Engines by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 9,673 shares of the asset manager’s stock valued at $354,000 after buying an additional 80 shares during the period. Pinebridge Investments L.P. grew its stake in shares of Financial Engines by 2.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,620 shares of the asset manager’s stock valued at $279,000 after buying an additional 154 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Financial Engines by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the asset manager’s stock valued at $864,000 after buying an additional 300 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Financial Engines by 13.4% in the 1st quarter. Victory Capital Management Inc. now owns 2,619 shares of the asset manager’s stock valued at $114,000 after buying an additional 310 shares during the period.
FNGN has been the topic of several recent analyst reports. Raymond James Financial, Inc. restated an “underperform” rating on shares of Financial Engines in a report on Friday, November 3rd. DA Davidson restated a “buy” rating and issued a $38.00 price objective on shares of Financial Engines in a report on Monday, November 6th. Zacks Investment Research upgraded shares of Financial Engines from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, October 10th. Barclays PLC decreased their price objective on shares of Financial Engines from $38.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, November 6th. Finally, UBS AG lowered shares of Financial Engines to an “underperform” rating in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.50.
In related news, insider Jeffrey C. Grace sold 6,180 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $37.00, for a total value of $228,660.00. Following the transaction, the insider now directly owns 9,414 shares of the company’s stock, valued at approximately $348,318. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey C. Grace sold 2,000 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $37.00, for a total transaction of $74,000.00. Following the transaction, the insider now directly owns 5,234 shares in the company, valued at $193,658. The disclosure for this sale can be found here. Insiders sold a total of 4,151,762 shares of company stock worth $137,335,013 over the last ninety days. Insiders own 9.27% of the company’s stock.
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Shares of Financial Engines, Inc. (NASDAQ FNGN) traded down $0.12 on Friday, hitting $26.95. 1,104,900 shares of the stock were exchanged, compared to its average volume of 374,521. Financial Engines, Inc. has a fifty-two week low of $24.45 and a fifty-two week high of $45.75. The firm has a market cap of $1,714.32, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.84 and a beta of 2.25.
Financial Engines (NASDAQ:FNGN) last announced its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The business had revenue of $122.20 million for the quarter, compared to analyst estimates of $124.11 million. During the same period last year, the business earned $0.31 EPS. The company’s revenue was up 8.7% on a year-over-year basis. analysts anticipate that Financial Engines, Inc. will post 1.03 earnings per share for the current fiscal year.
Financial Engines declared that its Board of Directors has initiated a stock buyback program on Thursday, November 2nd that allows the company to buyback $60.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Wednesday, December 13th. Financial Engines’s dividend payout ratio (DPR) is 36.36%.
Financial Engines Company Profile
Financial Engines, Inc is a provider of independent, technology-enabled financial advisory services, discretionary portfolio management, personalized investment advice, financial and retirement income planning, and financial education and guidance. The Company offers personalized plans for saving, investing, and generating retirement income, as well as by providing assessments of retirement income needs and readiness.
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