Zacks Investment Research Downgrades Financial Engines, Inc. (FNGN) to Hold
Financial Engines, Inc. (NASDAQ:FNGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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 weighed in on FNGN. Sidoti started coverage on shares of Financial Engines in a research note on Monday, July 10th. They set a “buy” rating on the stock. Barclays PLC started coverage on shares of Financial Engines in a research note on Friday, September 8th. They set an “overweight” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $42.50.
Financial Engines (NASDAQ:FNGN) traded up 1.12% on Tuesday, reaching $36.10. 291,726 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $35.07 and a 200 day moving average of $36.99. Financial Engines has a 12 month low of $25.00 and a 12 month high of $45.75. The stock has a market capitalization of $2.28 billion, a PE ratio of 55.54 and a beta of 2.20.
Financial Engines (NASDAQ:FNGN) last posted its quarterly earnings results on Tuesday, August 8th. The asset manager reported $0.23 earnings per share for the quarter, missing the Zacks’ 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 prior year, the firm earned $0.28 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities analysts predict that Financial Engines will post $1.37 earnings per share for the current fiscal year.
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In related news, Director Michael E. Martin sold 4,109,128 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $33.05, for a total transaction of $135,806,680.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey C. Grace sold 7,718 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $37.63, for a total transaction of $290,428.34. Following the transaction, the insider now owns 4,140 shares in the company, valued at approximately $155,788.20. The disclosure for this sale can be found here. Insiders sold a total of 4,159,480 shares of company stock worth $137,625,670 in the last 90 days. 9.27% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Villere ST Denis J & Co. LLC lifted its position in Financial Engines by 5.1% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 2,365,510 shares of the asset manager’s stock worth $82,201,000 after buying an additional 115,467 shares in the last quarter. Bridge City Capital LLC lifted its position in Financial Engines by 8.7% during the 3rd quarter. Bridge City Capital LLC now owns 36,006 shares of the asset manager’s stock worth $1,251,000 after buying an additional 2,881 shares in the last quarter. New York State Teachers Retirement System lifted its position in Financial Engines by 3.2% during the 3rd quarter. New York State Teachers Retirement System now owns 78,083 shares of the asset manager’s stock worth $2,713,000 after buying an additional 2,400 shares in the last quarter. American Capital Management Inc. bought a new stake in Financial Engines during the 3rd quarter worth about $4,155,000. Finally, Victory Capital Management Inc. raised its holdings in Financial Engines by 73.7% during the 3rd quarter. Victory Capital Management Inc. now owns 5,356 shares of the asset manager’s stock worth $186,000 after purchasing an additional 2,273 shares during the last quarter.
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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