BidaskClub cut shares of Financial Engines (NASDAQ:FNGN) from a buy rating to a hold rating in a research report sent to investors on Wednesday, January 10th.
FNGN has been the subject of several other reports. Raymond James Financial reiterated an underperform rating on shares of Financial Engines in a research note on Friday, November 3rd. William Blair downgraded shares of Financial Engines from an outperform rating to a market perform rating in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Financial Engines from a hold rating to a buy rating and set a $39.00 target price on the stock in a research report on Thursday, November 2nd. Northland Securities reissued a buy rating on shares of Financial Engines in a research report on Friday, November 3rd. Finally, Barclays reduced their target price on shares of Financial Engines from $38.00 to $30.00 and set an overweight rating on the stock in a research report on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Financial Engines has a consensus rating of Hold and an average target price of $39.25.
Financial Engines (FNGN) opened at $29.25 on Wednesday. The stock has a market cap of $1,874.20, a PE ratio of 37.99, a price-to-earnings-growth ratio of 1.66 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 data on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $124.11 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. research analysts forecast that Financial Engines will post 1.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Thursday, December 14th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.28 annualized dividend and a yield of 0.96%. Financial Engines’s dividend payout ratio is presently 36.36%.
Financial Engines announced that its Board of Directors has authorized a share 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 usually a sign that the company’s board believes its shares are undervalued.
In other news, insider Jeffrey C. Grace sold 2,000 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $37.00, for a total transaction of $74,000.00. Following the completion of the transaction, the insider now owns 5,234 shares in the company, valued at $193,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake R. Grossman purchased 18,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were purchased at an average price of $28.71 per share, with a total value of $516,780.00. Following the transaction, the director now directly owns 43,726 shares of the company’s stock, valued at approximately $1,255,373.46. The disclosure for this purchase can be found here. Insiders have sold 15,431 shares of company stock worth $567,364 over the last three months. 9.27% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC grew its position in 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 in the last quarter. Pinebridge Investments L.P. boosted its position in shares of Financial Engines by 2.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 7,620 shares of the asset manager’s stock valued at $279,000 after purchasing an additional 154 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Financial Engines by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 464 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Financial Engines by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock valued at $188,000 after purchasing an additional 520 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Financial Engines by 3.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 32,230 shares of the asset manager’s stock valued at $1,180,000 after purchasing an additional 1,035 shares in 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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