Financial Engines (NASDAQ:FNGN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
FNGN has been the topic of several other reports. BidaskClub upgraded shares of Financial Engines from a “hold” rating to a “buy” rating in a research note on Saturday, February 24th. Raymond James upgraded shares of Financial Engines from an “underperform” rating to a “market perform” rating in a research note on Monday, April 30th. DA Davidson lowered shares of Financial Engines from a “buy” rating to a “neutral” rating and lifted their price target for the company from $38.00 to $45.00 in a research note on Tuesday, May 8th. Northland Securities lowered shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Monday, May 14th. Finally, William Blair lowered shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Monday, April 30th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $37.50.
Shares of FNGN stock opened at $44.60 on Thursday. Financial Engines has a 1 year low of $24.45 and a 1 year high of $44.95. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 2.50 and a beta of 1.47.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings results on Wednesday, May 9th. The asset manager reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Financial Engines had a net margin of 10.53% and a return on equity of 8.80%. The firm had revenue of $127.80 million for the quarter, compared to analyst estimates of $126.28 million. During the same period in the previous year, the business earned $0.33 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. equities research analysts anticipate that Financial Engines will post 1.38 earnings per share for the current fiscal year.
In other news, EVP Gina M. Cruse sold 3,010 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.45, for a total transaction of $106,704.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christopher L. Jones sold 14,663 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $34.30, for a total transaction of $502,940.90. Following the transaction, the executive vice president now owns 62,289 shares in the company, valued at $2,136,512.70. The disclosure for this sale can be found here. Insiders have sold a total of 33,582 shares of company stock worth $1,259,166 over the last 90 days. 3.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Blueport Capital L.P. boosted its holdings in shares of Financial Engines by 12.3% during the 1st quarter. Blueport Capital L.P. now owns 10,377 shares of the asset manager’s stock worth $363,000 after buying an additional 1,133 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Financial Engines by 5.4% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 25,190 shares of the asset manager’s stock worth $882,000 after buying an additional 1,290 shares during the period. Rhumbline Advisers boosted its holdings in shares of Financial Engines by 1.4% during the 1st quarter. Rhumbline Advisers now owns 142,823 shares of the asset manager’s stock worth $4,999,000 after buying an additional 1,996 shares during the period. Profund Advisors LLC boosted its holdings in shares of Financial Engines by 19.7% during the 1st quarter. Profund Advisors LLC now owns 12,467 shares of the asset manager’s stock worth $436,000 after buying an additional 2,056 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Financial Engines by 2.0% during the 1st quarter. Prudential Financial Inc. now owns 105,523 shares of the asset manager’s stock worth $3,693,000 after buying an additional 2,090 shares during the period.
About Financial Engines
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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