Northern Trust Corp decreased its holdings in Financial Engines Inc (NASDAQ:FNGN) by 6.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 763,683 shares of the asset manager’s stock after selling 51,551 shares during the quarter. Northern Trust Corp’s holdings in Financial Engines were worth $34,289,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in FNGN. BlackRock Inc. raised its stake in Financial Engines by 11.9% in the second quarter. BlackRock Inc. now owns 8,815,509 shares of the asset manager’s stock valued at $395,816,000 after buying an additional 934,806 shares during the period. Renaissance Technologies LLC increased its stake in shares of Financial Engines by 296.6% during the second quarter. Renaissance Technologies LLC now owns 701,900 shares of the asset manager’s stock worth $31,515,000 after purchasing an additional 524,900 shares during the period. Chicago Capital Management LLC bought a new position in shares of Financial Engines during the second quarter worth approximately $22,981,000. Gabelli Funds LLC increased its stake in shares of Financial Engines by 4,588.9% during the second quarter. Gabelli Funds LLC now owns 515,781 shares of the asset manager’s stock worth $23,159,000 after purchasing an additional 504,781 shares during the period. Finally, Rothschild Asset Management Inc. bought a new position in shares of Financial Engines during the second quarter worth approximately $14,397,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.
A number of equities analysts have recently weighed in on FNGN shares. BidaskClub lowered Financial Engines from a “buy” rating to a “hold” rating in a research note on Friday, July 6th. ValuEngine upgraded Financial Engines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Financial Engines has an average rating of “Hold” and a consensus price target of $41.50.
Shares of NASDAQ FNGN opened at $44.95 on Friday. The company has a market cap of $2.86 billion, a PE ratio of 43.64, a PEG ratio of 2.43 and a beta of 1.46. Financial Engines Inc has a 1-year low of $24.45 and a 1-year high of $45.00.
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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