Financial Engines, Inc. (FNGN) Rating Increased to Buy at Zacks Investment Research
Financial Engines, Inc. (NASDAQ:FNGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $39.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.03% from the stock’s current price.
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. “
Several other research firms have also recently weighed in on FNGN. Sidoti initiated 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 price target on the stock. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $42.00.
Financial Engines (NASDAQ:FNGN) last issued its earnings results on Tuesday, August 8th. The asset manager reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). The firm had revenue of $118.47 million during the quarter, compared to the consensus estimate of $119.94 million. Financial Engines had a net margin of 8.98% and a return on equity of 7.31%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share.
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In other news, insider Jeffrey C. Grace sold 7,718 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were 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 owns 4,140 shares of the company’s stock, valued at $155,788.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey C. Grace sold 8,689 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $35.00, for a total transaction of $304,115.00. Following the transaction, the insider now directly owns 11,923 shares of the company’s stock, valued at approximately $417,305. The disclosure for this sale can be found here. Insiders sold 4,159,749 shares of company stock worth $137,635,462 in the last 90 days. Company insiders own 9.27% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in FNGN. Eagle Asset Management increased its stake in Financial Engines by 100.0% in the third quarter. Eagle Asset Management now owns 224,416 shares of the asset manager’s stock valued at $6,612,000 after purchasing an additional 112,186 shares in the last quarter. Diversified Trust Co increased its stake in Financial Engines by 9.0% in the fourth quarter. Diversified Trust Co now owns 8,500 shares of the asset manager’s stock valued at $286,000 after purchasing an additional 700 shares in the last quarter. Russell Frank Co increased its stake in Financial Engines by 86.8% in the fourth quarter. Russell Frank Co now owns 323,400 shares of the asset manager’s stock valued at $11,135,000 after purchasing an additional 150,278 shares in the last quarter. Kalmar Investments Inc. DE increased its stake in Financial Engines by 254.4% in the fourth quarter. Kalmar Investments Inc. DE now owns 749,785 shares of the asset manager’s stock valued at $25,245,000 after purchasing an additional 538,221 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Financial Engines by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 42,424 shares of the asset manager’s stock valued at $1,428,000 after purchasing an additional 150 shares in 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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