Financial Engines, Inc. (FNGN) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Financial Engines, Inc. (NASDAQ:FNGN) from a hold rating to a buy rating in a report published on Thursday. They currently have $39.00 price target on the asset manager’s stock.
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. “
A number of other research firms also recently commented on FNGN. Sidoti assumed coverage on shares of Financial Engines in a report on Monday, July 10th. They issued a buy rating on the stock. Barclays PLC assumed coverage on shares of Financial Engines in a report on Friday, September 8th. They issued an overweight rating and a $38.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Financial Engines presently has an average rating of Hold and an average price target of $42.00.
Financial Engines (FNGN) traded down $8.45 during mid-day trading on Thursday, hitting $26.60. 4,296,683 shares of the company’s stock were exchanged, compared to its average volume of 232,602. The company has a market capitalization of $1,684.23, a P/E ratio of 28.00, a P/E/G ratio of 1.80 and a beta of 2.25.
Financial Engines (NASDAQ:FNGN) last released its earnings results on Thursday, November 2nd. The asset manager reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Financial Engines had a net margin of 10.56% and a return on equity of 7.74%. The business had revenue of $122.20 million for the quarter, compared to the consensus estimate of $124.11 million. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. equities research analysts expect that Financial Engines will post 1.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 14th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, December 13th. Financial Engines’s dividend payout ratio (DPR) is currently 36.36%.
Financial Engines declared that its board has authorized a stock repurchase program on Thursday, November 2nd that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, EVP Michael Jerome Campbell sold 2,000 shares of Financial Engines stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $31.75, for a total value of $63,500.00. Following the transaction, the executive vice president now directly owns 41,020 shares of the company’s stock, valued at $1,302,385. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey C. Grace sold 7,718 shares of Financial Engines stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $37.63, for a total transaction of $290,428.34. Following the completion of the transaction, the insider now directly owns 4,140 shares in the company, valued at $155,788.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,159,749 shares of company stock worth $137,635,462. 9.27% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Financial Engines by 13.4% in the first quarter. Victory Capital Management Inc. now owns 2,619 shares of the asset manager’s stock worth $114,000 after acquiring an additional 310 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Financial Engines by 82.4% in the second quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock worth $167,000 after acquiring an additional 2,061 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Financial Engines by 11.3% during the second 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 in the last quarter. Shelton Capital Management purchased a new position in Financial Engines during the second quarter valued at approximately $208,000. Finally, KCG Holdings Inc. purchased a new position in Financial Engines during the first quarter valued at approximately $261,000.
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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