Financial Engines, Inc. (FNGN) Stake Boosted by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Financial Engines, Inc. (NASDAQ:FNGN) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 263,330 shares of the asset manager’s stock after buying an additional 16,800 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.42% of Financial Engines worth $9,151,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of Financial Engines by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 464 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Financial Engines by 82.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock valued at $167,000 after purchasing an additional 2,061 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Financial Engines by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock valued at $188,000 after purchasing an additional 520 shares during the period. Shelton Capital Management bought a new stake in shares of Financial Engines during the 2nd quarter valued at about $208,000. Finally, Quantbot Technologies LP bought a new stake in shares of Financial Engines during the 3rd quarter valued at about $206,000.
In other Financial Engines news, EVP Michael Jerome Campbell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $32.05, for a total value of $64,100.00. Following the completion of the transaction, the executive vice president now directly owns 41,020 shares in the company, valued at approximately $1,314,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lawrence M. Raffone purchased 15,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was acquired at an average price of $28.54 per share, with a total value of $428,100.00. Following the completion of the purchase, the chief executive officer now directly owns 66,540 shares in the company, valued at $1,899,051.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 40,634 shares of company stock valued at $1,464,833. 9.27% of the stock is currently owned by corporate insiders.
Financial Engines (NASDAQ:FNGN) last announced its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The company had revenue of $122.20 million during the quarter, compared to the consensus estimate of $124.11 million. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. equities analysts expect that Financial Engines, Inc. will post 1.03 EPS for the current year.
Financial Engines declared that its board has authorized a stock buyback program on Thursday, November 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.98%. Financial Engines’s dividend payout ratio (DPR) is presently 36.36%.
A number of research firms have issued reports on FNGN. Barclays began coverage on Financial Engines in a research note on Friday, September 8th. They set an “overweight” rating and a $38.00 price target for the company. Zacks Investment Research downgraded Financial Engines from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. William Blair downgraded Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Northland Securities restated a “buy” rating on shares of Financial Engines in a research note on Friday, November 3rd. Finally, ValuEngine downgraded Financial Engines from a “hold” rating to a “sell” rating in a research note on Saturday, November 25th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Financial Engines presently has a consensus rating of “Hold” and an average target price of $38.50.
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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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