Financial Engines (FNGN) Lowered to “Sell” at ValuEngine

Financial Engines (NASDAQ:FNGN) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other brokerages have also issued reports on FNGN. Zacks Investment Research upgraded Financial Engines from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Thursday, November 2nd. Raymond James Financial restated an “underperform” rating on shares of Financial Engines in a research note on Friday, November 3rd. William Blair lowered Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Barclays lowered Financial Engines from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $30.00 to $33.00 in a research note on Monday, January 8th. Finally, BidaskClub upgraded Financial Engines from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Financial Engines has an average rating of “Hold” and a consensus price target of $35.75.

Financial Engines (NASDAQ:FNGN) opened at $28.00 on Tuesday. Financial Engines has a 12 month low of $24.45 and a 12 month high of $45.75. The stock has a market capitalization of $1,753.89, a PE ratio of 36.36, a P/E/G ratio of 1.49 and a beta of 1.89.

Financial Engines announced that its board has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

In related news, CEO Lawrence M. Raffone acquired 15,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were bought at an average cost of $28.54 per share, for a total transaction of $428,100.00. Following the purchase, the chief executive officer now owns 66,540 shares in the company, valued at approximately $1,899,051.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Blake R. Grossman acquired 18,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was bought at an average price of $28.71 per share, for a total transaction of $516,780.00. Following the completion of the purchase, the director now owns 43,726 shares in the company, valued at approximately $1,255,373.46. The disclosure for this purchase can be found here. Corporate insiders own 9.27% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNGN. Victory Capital Management Inc. grew its position in Financial Engines by 73.7% during the 3rd quarter. Victory Capital Management Inc. now owns 5,356 shares of the asset manager’s stock worth $186,000 after acquiring an additional 2,273 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Financial Engines by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock worth $188,000 after acquiring an additional 520 shares during the last quarter. Quantbot Technologies LP bought a new stake in Financial Engines during the 3rd quarter worth approximately $206,000. Shelton Capital Management bought a new stake in Financial Engines during the 2nd quarter worth approximately $208,000. Finally, Gamco Investors INC. ET AL bought a new stake in Financial Engines during the 3rd quarter worth approximately $278,000.

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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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