Financial Engines (NASDAQ:FNGN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
FNGN has been the subject of a number of other reports. Zacks Investment Research lowered shares of Financial Engines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 3rd. ValuEngine lowered shares of Financial Engines from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Northland Securities reissued a “buy” rating on shares of Financial Engines in a research report on Friday, November 3rd. TheStreet lowered shares of Financial Engines from a “b-” rating to a “c” rating in a research report on Friday, November 24th. Finally, Barclays reduced their price target on shares of Financial Engines from $38.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, November 6th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Financial Engines presently has an average rating of “Hold” and a consensus target price of $39.25.
Shares of Financial Engines (NASDAQ:FNGN) opened at $29.90 on Wednesday. The stock has a market cap of $1,890.00, a P/E ratio of 38.83, a PEG ratio of 1.75 and a beta of 2.15. Financial Engines has a 52-week low of $24.45 and a 52-week high of $45.75.
Financial Engines (NASDAQ:FNGN) last posted its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $122.20 million during the quarter, compared to analyst estimates of $124.11 million. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. sell-side analysts anticipate that Financial Engines will post 1.04 EPS for the current fiscal year.
Financial Engines declared that its board has approved a share repurchase program on Thursday, November 2nd that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other Financial Engines news, insider Jeffrey C. Grace sold 7,783 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $36.83, for a total transaction of $286,647.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey C. Grace sold 2,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $37.00, for a total value of $74,000.00. Following the transaction, the insider now owns 5,234 shares in the company, valued at approximately $193,658. The disclosure for this sale can be found here. Insiders sold 25,214 shares of company stock worth $927,572 in the last 90 days. 9.27% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in FNGN. Schwab Charles Investment Management Inc. grew its holdings in Financial Engines by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 258,777 shares of the asset manager’s stock valued at $9,472,000 after purchasing an additional 11,249 shares during the last quarter. First Trust Advisors LP grew its holdings in Financial Engines by 367.1% during the second quarter. First Trust Advisors LP now owns 42,447 shares of the asset manager’s stock valued at $1,554,000 after purchasing an additional 33,360 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Financial Engines in the second quarter worth $271,000. Legal & General Group Plc grew its stake in shares of Financial Engines by 10.3% in the second quarter. Legal & General Group Plc now owns 110,720 shares of the asset manager’s stock worth $4,052,000 after acquiring an additional 10,376 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Financial Engines by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock worth $113,000 after acquiring an additional 464 shares during the last quarter.
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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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