Northland Securities Reaffirms Buy Rating for Financial Engines, Inc. (FNGN)
Financial Engines, Inc. (NASDAQ:FNGN)‘s stock had its “buy” rating reissued by investment analysts at Northland Securities in a research report issued on Friday.
FNGN has been the subject of a number of other research reports. Sidoti assumed coverage on Financial Engines in a report on Monday, July 10th. They set a “buy” rating for the company. Zacks Investment Research cut Financial Engines from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays PLC assumed coverage on Financial Engines in a report on Friday, September 8th. They issued an “overweight” rating and a $38.00 price target for the company. William Blair cut Financial Engines from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of Financial Engines in a report on Friday. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $42.00.
Shares of Financial Engines (NASDAQ:FNGN) traded down $8.60 during trading hours on Friday, hitting $26.60. The stock had a trading volume of 4,296,683 shares, compared to its average volume of 232,602. The firm has a market cap of $1,684.23, a PE ratio of 28.00, a PEG ratio of 1.80 and a beta of 2.25.
Financial Engines (NASDAQ:FNGN) last issued its earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. Financial Engines had a return on equity of 7.74% and a net margin of 10.56%. The business had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $124.11 million. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. sell-side analysts forecast that Financial Engines will post 1.04 EPS for the current year.
Financial Engines declared that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that allows the company to repurchase $60.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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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, August 22nd. The stock was sold at an average price of $31.75, for a total transaction of $63,500.00. Following the sale, the executive vice president now directly owns 41,020 shares of the company’s stock, valued at approximately $1,302,385. The transaction was disclosed in a 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 shares were 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. Over the last ninety days, insiders sold 4,159,749 shares of company stock worth $137,635,462. 9.27% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of FNGN. BlackRock Inc. grew its stake in Financial Engines by 163,234.9% during the 1st quarter. BlackRock Inc. now owns 7,137,735 shares of the asset manager’s stock worth $310,848,000 after buying an additional 7,133,365 shares during the last quarter. Janus Henderson Group PLC bought a new position in Financial Engines during the 2nd quarter worth $106,955,000. Vanguard Group Inc. grew its stake in Financial Engines by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 4,960,319 shares of the asset manager’s stock worth $216,023,000 after buying an additional 504,246 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Financial Engines during the 3rd quarter worth $9,131,000. Finally, Dimensional Fund Advisors LP grew its stake in Financial Engines by 44.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 763,937 shares of the asset manager’s stock worth $27,960,000 after buying an additional 235,185 shares during the last quarter.
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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