Financial Engines, Inc. (FNGN) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Financial Engines, Inc. (NASDAQ:FNGN) have earned an average recommendation of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $42.00.
FNGN has been the topic of several analyst reports. Northland Securities restated a “buy” rating on shares of Financial Engines in a research note on Friday. Zacks Investment Research upgraded shares of Financial Engines from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Wednesday, July 12th. Sidoti initiated coverage on shares of Financial Engines in a research note on Monday, July 10th. They issued a “buy” rating on the stock. William Blair lowered shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Barclays PLC initiated coverage on shares of Financial Engines in a research note on Friday, September 8th. They issued an “overweight” rating and a $38.00 price target on the stock.
Shares of Financial Engines (NASDAQ:FNGN) opened at $26.60 on Friday. The company has a market capitalization of $1,684.23, a price-to-earnings ratio of 28.00, a PEG ratio of 1.80 and a beta of 2.25.
Financial Engines (NASDAQ:FNGN) last released its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Financial Engines had a net margin of 10.56% and a return on equity of 7.74%. The firm had revenue of $122.20 million for the quarter, compared to analyst estimates of $124.11 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. Financial Engines’s quarterly revenue was up 8.7% on a year-over-year basis. analysts expect that Financial Engines will post 1.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 14th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, December 13th. Financial Engines’s dividend payout ratio (DPR) is presently 36.36%.
Financial Engines declared that its board has initiated a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $60.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, EVP Christopher L. Jones sold 6,982 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $36.51, for a total value of $254,912.82. Following the completion of the transaction, the executive vice president now owns 40,963 shares of the company’s stock, valued at approximately $1,495,559.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey C. Grace sold 7,718 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was 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 directly owns 4,140 shares of the company’s stock, valued at approximately $155,788.20. The disclosure for this sale can be found here. Insiders sold 4,159,749 shares of company stock valued at $137,635,462 over the last quarter. Insiders own 9.27% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in 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 purchasing an additional 464 shares during the period. Riverhead Capital Management LLC boosted its stake in 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 purchasing an additional 2,061 shares during the period. Ameritas Investment Partners Inc. boosted its stake in 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 purchasing an additional 520 shares during the period. Shelton Capital Management acquired a new position in Financial Engines in the 2nd quarter worth approximately $208,000. Finally, Wrapmanager Inc. boosted its stake in Financial Engines by 24.1% in the 2nd quarter. Wrapmanager Inc. now owns 6,435 shares of the asset manager’s stock worth $236,000 after purchasing an additional 1,251 shares during the period.
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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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