Financial Engines, Inc. (FNGN) Shares Bought by Texas Permanent School Fund
Texas Permanent School Fund increased its stake in shares of Financial Engines, Inc. (NASDAQ:FNGN) by 1.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,229 shares of the asset manager’s stock after buying an additional 782 shares during the period. Texas Permanent School Fund’s holdings in Financial Engines were worth $1,546,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Financial Engines by 6.0% in the first quarter. Russell Investments Group Ltd. now owns 157,686 shares of the asset manager’s stock valued at $6,867,000 after buying an additional 8,958 shares in the last quarter. Strs Ohio boosted its position in Financial Engines by 109.1% in the first quarter. Strs Ohio now owns 2,300 shares of the asset manager’s stock valued at $100,000 after buying an additional 1,200 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in Financial Engines by 0.8% in the first quarter. Glen Harbor Capital Management LLC now owns 22,368 shares of the asset manager’s stock valued at $974,000 after buying an additional 176 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in Financial Engines during the first quarter valued at $206,000. Finally, Nationwide Fund Advisors boosted its position in Financial Engines by 17.8% in the first quarter. Nationwide Fund Advisors now owns 70,457 shares of the asset manager’s stock valued at $3,068,000 after buying an additional 10,622 shares in the last quarter.
Financial Engines, Inc. (NASDAQ:FNGN) opened at 34.45 on Wednesday. The company has a market capitalization of $2.18 billion, a PE ratio of 53.00 and a beta of 2.22. Financial Engines, Inc. has a one year low of $25.00 and a one year high of $45.75. The stock’s 50 day moving average is $37.11 and its 200 day moving average is $39.64.
Financial Engines (NASDAQ:FNGN) last posted its quarterly earnings results on Tuesday, August 8th. The asset manager reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.02. Financial Engines had a net margin of 8.98% and a return on equity of 7.31%. The business had revenue of $118.47 million during the quarter, compared to the consensus estimate of $119.94 million. During the same period last year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts anticipate that Financial Engines, Inc. will post $1.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, September 19th. Financial Engines’s dividend payout ratio (DPR) is currently 43.75%.
Several research firms have weighed in on FNGN. Zacks Investment Research cut shares of Financial Engines from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. TheStreet raised shares of Financial Engines from a “c+” rating to a “b-” rating in a report on Thursday, April 27th. DA Davidson began coverage on shares of Financial Engines in a report on Wednesday, June 21st. They issued a “buy” rating and a $44.00 price target on the stock. BidaskClub cut shares of Financial Engines from a “sell” rating to a “strong sell” rating in a report on Saturday, July 1st. Finally, Sidoti assumed coverage on shares of Financial Engines in a report on Monday, July 10th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $44.33.
In other news, EVP Michael Jerome Campbell sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the sale, the executive vice president now owns 41,020 shares of the company’s stock, valued at $1,616,188. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher L. Jones sold 5,120 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $38.45, for a total transaction of $196,864.00. Following the completion of the sale, the executive vice president now directly owns 60,089 shares in the company, valued at approximately $2,310,422.05. The disclosure for this sale can be found here. In the last three months, insiders sold 23,595 shares of company stock worth $905,908. Insiders own 15.97% of the company’s stock.
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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