Millennium Management LLC reduced its stake in Financial Engines (NASDAQ:FNGN) by 30.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 215,795 shares of the asset manager’s stock after selling 92,282 shares during the period. Millennium Management LLC owned approximately 0.34% of Financial Engines worth $6,539,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. CI Investments Inc. purchased a new stake in Financial Engines in the 4th quarter valued at about $727,000. Schwab Charles Investment Management Inc. raised its holdings in Financial Engines by 10.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 286,959 shares of the asset manager’s stock valued at $9,972,000 after buying an additional 28,182 shares during the period. Arizona State Retirement System raised its holdings in Financial Engines by 225.1% in the 4th quarter. Arizona State Retirement System now owns 106,420 shares of the asset manager’s stock valued at $3,225,000 after buying an additional 73,688 shares during the period. American Capital Management Inc. raised its holdings in Financial Engines by 4.1% in the 4th quarter. American Capital Management Inc. now owns 124,505 shares of the asset manager’s stock valued at $3,773,000 after buying an additional 4,935 shares during the period. Finally, California Public Employees Retirement System grew its position in Financial Engines by 10.3% in the 4th quarter. California Public Employees Retirement System now owns 66,562 shares of the asset manager’s stock valued at $2,017,000 after acquiring an additional 6,225 shares in the last quarter.
In other news, EVP Gina M. Cruse sold 3,010 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.45, for a total transaction of $106,704.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Bunch sold 5,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the transaction, the chief operating officer now directly owns 15,586 shares of the company’s stock, valued at $545,510. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,582 shares of company stock valued at $815,166. Corporate insiders own 9.27% of the company’s stock.
Several equities analysts have weighed in on the company. BidaskClub raised Financial Engines from a “hold” rating to a “buy” rating in a research report on Saturday, February 24th. TheStreet raised Financial Engines from a “c+” rating to a “b-” rating in a research report on Wednesday, March 14th. Zacks Investment Research downgraded Financial Engines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Barclays downgraded Financial Engines from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $30.00 to $33.00 in a research report on Monday, January 8th. Finally, ValuEngine downgraded Financial Engines from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Financial Engines currently has a consensus rating of “Hold” and an average price target of $35.75.
NASDAQ FNGN opened at $32.65 on Friday. The stock has a market capitalization of $2,087.57, a price-to-earnings ratio of 31.70, a PEG ratio of 1.65 and a beta of 1.51. Financial Engines has a 1-year low of $24.45 and a 1-year high of $45.00.
Financial Engines (NASDAQ:FNGN) last released its earnings results on Thursday, February 22nd. The asset manager reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $125.69 million during the quarter, compared to the consensus estimate of $126.49 million. Financial Engines had a return on equity of 8.07% and a net margin of 9.71%. Financial Engines’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. equities research analysts anticipate that Financial Engines will post 1.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 5th. Stockholders of record on Thursday, March 22nd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 21st. This is an increase from Financial Engines’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. Financial Engines’s payout ratio is currently 31.07%.
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Financial Engines Profile
Financial Engines, Inc provides independent technology-enabled financial advisory, discretionary portfolio management, personalized investment advice, financial and retirement income planning, and financial education and guidance services in the United States. It assists individuals to develop a strategy to reach financial goals by offering a set of services, including personalized plans for saving and investing, assessments of retirement income, and the option to meet face-to-face with a financial advisor.
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