Wells Fargo & Company MN Sells 19,810 Shares of Financial Engines, Inc. (FNGN)
Wells Fargo & Company MN lessened its position in Financial Engines, Inc. (NASDAQ:FNGN) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 599,882 shares of the asset manager’s stock after selling 19,810 shares during the period. Wells Fargo & Company MN owned 0.95% of Financial Engines worth $20,846,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Legal & General Group Plc increased its holdings in Financial Engines by 10.2% in the 3rd quarter. Legal & General Group Plc now owns 122,019 shares of the asset manager’s stock worth $4,236,000 after purchasing an additional 11,299 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Financial Engines by 6.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 89,631 shares of the asset manager’s stock valued at $3,114,000 after buying an additional 5,282 shares during the last quarter. American International Group Inc. grew its position in shares of Financial Engines by 7.2% in the 3rd quarter. American International Group Inc. now owns 46,930 shares of the asset manager’s stock valued at $1,631,000 after buying an additional 3,171 shares during the last quarter. Mogy Joel R Investment Counsel Inc. grew its position in shares of Financial Engines by 2.2% in the 3rd quarter. Mogy Joel R Investment Counsel Inc. now owns 264,366 shares of the asset manager’s stock valued at $9,187,000 after buying an additional 5,650 shares during the last quarter. Finally, Icon Advisers Inc. Co. grew its position in shares of Financial Engines by 35.2% in the 3rd quarter. Icon Advisers Inc. Co. now owns 23,800 shares of the asset manager’s stock valued at $827,000 after buying an additional 6,200 shares during the last quarter.
A number of equities research analysts have commented on FNGN shares. BidaskClub lowered Financial Engines from a “hold” rating to a “sell” rating in a research report on Saturday. Northland Securities reiterated a “buy” rating on shares of Financial Engines in a research report on Friday, November 3rd. Zacks Investment Research lowered Financial Engines from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. TheStreet lowered Financial Engines from a “b-” rating to a “c” rating in a research report on Friday, November 24th. Finally, Barclays cut their target price on Financial Engines from $38.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, November 6th. Three analysts have rated the stock with a sell rating, one has given a hold rating and six have issued 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.
Financial Engines (NASDAQ:FNGN) last announced its earnings results on Thursday, November 2nd. The asset manager reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. The company had revenue of $122.20 million for the quarter, compared to analyst estimates of $124.11 million. During the same quarter in the prior year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. equities analysts forecast that Financial Engines, Inc. will post 1.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.94%. Financial Engines’s payout ratio is 36.36%.
Financial Engines declared that its Board of Directors has initiated 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 buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Financial Engines news, insider Jeffrey C. Grace sold 8,689 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $35.00, for a total value of $304,115.00. Following the transaction, the insider now owns 11,923 shares in the company, valued at $417,305. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gina M. Cruse sold 3,655 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $36.30, for a total value of $132,676.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,634 shares of company stock worth $1,400,733. 9.27% of the stock is owned by corporate insiders.
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Financial Engines 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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