Financial Engines, Inc. (NASDAQ:FNGN) – Research analysts at DA Davidson lowered their Q3 2018 earnings per share estimates for shares of Financial Engines in a research note issued to investors on Tuesday, Zacks Investment Research reports. DA Davidson analyst P. Heckmann now anticipates that the asset manager will earn $0.33 per share for the quarter, down from their previous estimate of $0.34. DA Davidson has a “Buy” rating and a $38.00 price target on the stock. DA Davidson also issued estimates for Financial Engines’ Q4 2018 earnings at $0.36 EPS.
Several other research analysts have also recently weighed in on the stock. Barclays PLC began coverage on shares of Financial Engines in a research note on Friday, September 8th. They set an “overweight” rating and a $38.00 price target on the stock. Zacks Investment Research cut shares of Financial Engines from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. William Blair cut shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Northland Securities reiterated a “buy” rating on shares of Financial Engines in a research note on Friday, November 3rd. Finally, UBS AG cut shares of Financial Engines to an “underperform” rating in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Financial Engines currently has a consensus rating of “Hold” and a consensus target price of $38.50.
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Shares of Financial Engines (NASDAQ FNGN) opened at $26.95 on Thursday. Financial Engines has a fifty-two week low of $24.45 and a fifty-two week high of $45.75. The stock has a market cap of $1,706.39, a P/E ratio of 28.37, a P/E/G ratio of 1.83 and a beta of 2.25.
Financial Engines (NASDAQ:FNGN) last issued its earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The company had revenue of $122.20 million for the quarter, compared to analysts’ expectations of $124.11 million. During the same quarter last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis.
Financial Engines declared that its board has approved a share repurchase program on Thursday, November 2nd that permits the company to buyback $60.00 million in shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 13th. This represents a $0.28 annualized dividend and a dividend yield of 1.04%. Financial Engines’s payout ratio is 36.36%.
In other Financial Engines news, Director Michael E. Martin sold 4,109,128 shares of Financial Engines stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $33.05, for a total value of $135,806,680.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Jerome Campbell sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $31.75, for a total transaction of $63,500.00. Following the completion of the sale, the executive vice president now owns 41,020 shares in the company, valued at $1,302,385. The disclosure for this sale can be found here. Insiders have sold a total of 4,151,762 shares of company stock worth $137,335,013 over the last 90 days. Insiders own 9.27% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its holdings 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 worth $343,000 after buying an additional 47 shares during the last quarter. Neuberger Berman Group LLC increased its holdings 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 worth $354,000 after buying an additional 80 shares during the last quarter. Pinebridge Investments L.P. increased its holdings 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 worth $279,000 after buying an additional 154 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings 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 worth $864,000 after buying an additional 300 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings 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 worth $114,000 after buying an additional 310 shares during the last quarter.
About Financial Engines
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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