Financial Engines (FNGN) Upgraded to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Financial Engines (NASDAQ:FNGN) from a hold rating to a strong-buy rating in a report released on Friday. They currently have $34.00 target price on the asset manager’s stock.

According to Zacks, “Financial Engines, Inc. is an independent investment advisor that provides personalized retirement plans for saving, investing, and retirement income. Financial Engines offers both online advice and professional management to meet the needs of different investors. Its services include Professional Management, a discretionary managed account service designed for plan participants who want personalized and professional portfolio management services, investment advice, and retirement help from an independent investment advisor; Online Advice, a nondiscretionary Internet-based service that offers personalized advice to plan participants who wish to take an active role in personally managing their retirement portfolios; and Retirement Evaluation, a retirement readiness assessment provided to plan participants upon plan rollout. Financial Engines, Inc. is headquartered in Palo Alto, California. “

Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Financial Engines from a buy rating to a hold rating in a research report on Wednesday, January 10th. ValuEngine downgraded shares of Financial Engines from a hold rating to a sell rating in a research report on Saturday, November 25th. Raymond James Financial reissued an underperform rating on shares of Financial Engines in a research report on Friday, November 3rd. William Blair downgraded shares of Financial Engines from an outperform rating to a market perform rating in a research report on Friday, November 3rd. Finally, Jefferies Group reissued a buy rating and issued a $38.00 target price on shares of Financial Engines in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $35.75.

Shares of Financial Engines (FNGN) traded up $0.85 on Friday, reaching $30.00. 394,443 shares of the company were exchanged, compared to its average volume of 474,968. Financial Engines has a 52-week low of $24.45 and a 52-week high of $45.75. The stock has a market capitalization of $1,845.70, a P/E ratio of 38.96, a PEG ratio of 1.56 and a beta of 2.15.

Financial Engines (NASDAQ:FNGN) last announced its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.36 EPS 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 firm had revenue of $122.20 million for the quarter, compared to the consensus estimate of $124.11 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. equities research analysts forecast that Financial Engines will post 1.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Thursday, December 14th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.93%. The ex-dividend date was Wednesday, December 13th. Financial Engines’s dividend payout ratio is 36.36%.

Financial Engines announced that its board has approved a stock buyback program on Thursday, November 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the asset manager to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, CEO Lawrence M. Raffone acquired 15,000 shares of Financial Engines stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $28.54 per share, for a total transaction of $428,100.00. Following the completion of the purchase, the chief executive officer now owns 66,540 shares of the company’s stock, valued at $1,899,051.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Blake R. Grossman acquired 18,000 shares of Financial Engines stock in a transaction dated Thursday, December 7th. The stock was purchased at an average price of $28.71 per share, with a total value of $516,780.00. Following the completion of the purchase, 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 sold 15,431 shares of company stock valued at $567,364 over the last three months. Insiders own 9.27% of the company’s stock.

Several institutional investors have recently modified their holdings of FNGN. Victory Capital Management Inc. lifted 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 buying an additional 464 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Financial Engines by 82.4% in the second quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock worth $167,000 after buying an additional 2,061 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Financial Engines by 11.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock worth $188,000 after buying an additional 520 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Financial Engines in the third quarter worth $206,000. Finally, Shelton Capital Management acquired a new stake in shares of Financial Engines in the second quarter worth $208,000.

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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.

Analyst Recommendations for Financial Engines (NASDAQ:FNGN)

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