Financial Engines, Inc. (FNGN) to Issue Quarterly Dividend of $0.07 on January 5th
Financial Engines, Inc. (NASDAQ:FNGN) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Shareholders of record on Thursday, December 14th will be given a dividend of 0.07 per share by the asset manager on Friday, January 5th. This represents a $0.28 annualized dividend and a yield of 0.98%. The ex-dividend date is Wednesday, December 13th.
Financial Engines (NASDAQ:FNGN) opened at $28.55 on Tuesday. The company has a market capitalization of $1,861.53, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. Financial Engines has a 12-month low of $24.45 and a 12-month high of $45.75.
Financial Engines (NASDAQ:FNGN) last released its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $122.20 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. research analysts predict that Financial Engines will post 1.03 earnings per share for the current fiscal year.
In other Financial Engines news, CEO Lawrence M. Raffone purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were purchased at an average cost of $28.54 per share, for a total transaction 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey C. Grace sold 2,000 shares of Financial Engines stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $37.00, for a total value of $74,000.00. Following the completion of the sale, the insider now owns 5,234 shares in the company, valued at $193,658. The disclosure for this sale can be found here. In the last three months, insiders sold 40,634 shares of company stock worth $1,464,833. Corporate insiders own 9.27% of the company’s stock.
Several research analysts have commented on FNGN shares. TheStreet lowered Financial Engines from a “b-” rating to a “c” rating in a research report on Friday, November 24th. Raymond James Financial reaffirmed an “underperform” rating on shares of Financial Engines in a research report on Friday, November 3rd. DA Davidson reissued a “buy” rating and issued a $38.00 target price on shares of Financial Engines in a report on Monday, November 6th. Zacks Investment Research raised Financial Engines from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, October 10th. Finally, Barclays dropped their target price on Financial Engines from $38.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Financial Engines presently has a consensus rating of “Hold” and an average target price of $38.50.
Financial Engines declared that its board has approved a stock repurchase program on Thursday, November 2nd that permits the company to buyback $60.00 million in outstanding shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Financial Engines Company Profile
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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