Financial Engines, Inc. (FNGN) Receives Consensus Recommendation of “Buy” from Analysts
Financial Engines, Inc. (NASDAQ:FNGN) has earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $43.00.
Several equities analysts have issued reports on FNGN shares. DA Davidson started coverage on Financial Engines in a research report on Wednesday, June 21st. They set a “buy” rating and a $44.00 target price on the stock. BidaskClub cut Financial Engines from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 1st. Sidoti started coverage on Financial Engines in a research report on Monday, July 10th. They set a “buy” rating on the stock. Zacks Investment Research upgraded Financial Engines from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Wednesday, July 12th. Finally, Barclays PLC started coverage on Financial Engines in a research report on Friday, September 8th. They set an “overweight” rating and a $38.00 target price on the stock.
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In related news, EVP Michael Jerome Campbell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $37.55, for a total value of $75,100.00. Following the sale, the executive vice president now owns 41,020 shares in the company, valued at approximately $1,540,301. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Martin sold 4,109,128 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $33.05, for a total value of $135,806,680.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,127,042 shares of company stock worth $136,472,855. Insiders own 15.97% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio grew its holdings in shares of Financial Engines by 109.1% in the 1st quarter. Strs Ohio now owns 2,300 shares of the asset manager’s stock worth $100,000 after acquiring an additional 1,200 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Financial Engines by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock worth $113,000 after acquiring an additional 464 shares during the period. Riverhead Capital Management LLC grew its holdings in shares of Financial Engines by 82.4% in the 2nd 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 during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Financial Engines by 11.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock worth $188,000 after acquiring an additional 520 shares during the period. Finally, Shelton Capital Management acquired a new stake in shares of Financial Engines in the 2nd quarter worth approximately $208,000.
Financial Engines (FNGN) opened at 31.85 on Friday. The firm’s 50-day moving average price is $33.98 and its 200-day moving average price is $38.47. Financial Engines has a 12 month low of $25.00 and a 12 month high of $45.75. The stock has a market cap of $2.01 billion, a P/E ratio of 49.00 and a beta of 2.22.
Financial Engines (NASDAQ:FNGN) last released its earnings results on Tuesday, August 8th. The asset manager reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). Financial Engines had a return on equity of 7.31% and a net margin of 8.98%. The business had revenue of $118.47 million for the quarter, compared to analyst estimates of $119.94 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts predict that Financial Engines will post $1.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.88%. The ex-dividend date is Tuesday, September 19th. Financial Engines’s payout ratio is 43.75%.
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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