Gamco Investors INC. ET AL lifted its holdings in Financial Engines Inc (NASDAQ:FNGN) by 50.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the asset manager’s stock after purchasing an additional 4,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Financial Engines were worth $364,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of FNGN. Janus Henderson Group PLC boosted its position in shares of Financial Engines by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,235,665 shares of the asset manager’s stock worth $112,439,000 after purchasing an additional 313,400 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in Financial Engines during the 4th quarter worth about $8,276,000. Bamco Inc. NY lifted its position in Financial Engines by 6.3% during the 3rd quarter. Bamco Inc. NY now owns 4,581,002 shares of the asset manager’s stock worth $159,190,000 after acquiring an additional 269,500 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Financial Engines during the 3rd quarter worth about $9,131,000. Finally, Vanguard Group Inc. lifted its position in Financial Engines by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,221,858 shares of the asset manager’s stock worth $191,120,000 after acquiring an additional 261,539 shares during the period.
A number of analysts have commented on FNGN shares. DA Davidson reaffirmed a “buy” rating and set a $38.00 price target on shares of Financial Engines in a research report on Monday, November 6th. Northland Securities reaffirmed a “buy” rating on shares of Financial Engines in a research report on Friday, November 3rd. Zacks Investment Research raised Financial Engines from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Thursday, November 2nd. BidaskClub raised Financial Engines from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $38.00 price target on shares of Financial Engines in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Financial Engines presently has a consensus rating of “Hold” and a consensus target price of $35.75.
Financial Engines Inc (NASDAQ:FNGN) opened at $27.95 on Wednesday. The stock has a market capitalization of $1,772.89, a PE ratio of 29.47, a PEG ratio of 1.50 and a beta of 1.89. Financial Engines Inc has a fifty-two week low of $24.45 and a fifty-two week high of $45.75.
Financial Engines declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 2nd that authorizes the company to repurchase $60.00 million in shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Blake R. Grossman acquired 18,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average price of $28.71 per share, with a total value of $516,780.00. Following the acquisition, the director now directly owns 43,726 shares in the company, valued at approximately $1,255,373.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lawrence M. Raffone acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of $28.54 per share, with a total value of $428,100.00. Following the acquisition, the chief executive officer now owns 66,540 shares in the company, valued at $1,899,051.60. The disclosure for this purchase can be found here. Insiders own 9.27% of the company’s stock.
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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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