Financial Engines (NASDAQ:FNGN) announced that its board has initiated a share repurchase plan, which permits the company to buyback $60.00 million in outstanding shares on Thursday, November 2nd, EventVestor reports. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Shares of Financial Engines (NASDAQ FNGN) traded down $8.60 during trading hours on Friday, reaching $26.60. The company’s stock had a trading volume of 4,296,683 shares, compared to its average volume of 232,602. The stock has a market capitalization of $2.22 billion, a P/E ratio of 36.90, a PEG ratio of 2.37 and a beta of 2.25.

Financial Engines (NASDAQ:FNGN) last announced its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Financial Engines had a return on equity of 7.74% and a net margin of 10.56%. The firm had revenue of $122.20 million for the quarter, compared to analysts’ expectations of $124.11 million. During the same period in the prior year, the business posted $0.31 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. sell-side analysts anticipate that Financial Engines will post 1.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, December 14th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, December 13th. Financial Engines’s dividend payout ratio (DPR) is 36.36%.

A number of research firms have recently issued reports on FNGN. Northland Securities restated a “buy” rating on shares of Financial Engines in a research report on Friday. Raymond James Financial, Inc. restated an “underperform” rating on shares of Financial Engines in a research report on Friday. UBS Group AG (USA) cut Financial Engines to an “underperform” rating in a research report on Friday. William Blair cut Financial Engines from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Zacks Investment Research upgraded Financial Engines from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday. Three equities research 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. The stock currently has a consensus rating of “Hold” and an average target price of $42.00.

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In other Financial Engines news, EVP Christopher L. Jones sold 6,982 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $36.51, for a total value of $254,912.82. Following the transaction, the executive vice president now owns 40,963 shares of the company’s stock, valued at $1,495,559.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffrey C. Grace sold 7,718 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $37.63, for a total value of $290,428.34. Following the completion of the transaction, the insider now directly owns 4,140 shares in the company, valued at approximately $155,788.20. The disclosure for this sale can be found here. Insiders sold 4,159,749 shares of company stock worth $137,635,462 over the last quarter. Company insiders own 9.27% of the company’s stock.

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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