Financial Engines (NASDAQ:FNGN)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group in a research report issued on Wednesday. They currently have a $38.00 price target on the asset manager’s stock. Jefferies Group’s target price would indicate a potential upside of 27.73% from the stock’s previous close.

A number of other analysts have also recently issued reports on FNGN. Barclays cut shares of Financial Engines from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $30.00 to $33.00 in a research note on Monday, January 8th. BidaskClub cut shares of Financial Engines from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine cut shares of Financial Engines from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Zacks Investment Research cut shares of Financial Engines from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 3rd. Finally, TheStreet cut shares of Financial Engines from a “b-” rating to a “c” rating in a research note on Friday, November 24th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Financial Engines currently has a consensus rating of “Hold” and a consensus price target of $37.00.

Shares of Financial Engines (NASDAQ:FNGN) traded up $0.50 during midday trading on Wednesday, hitting $29.75. 426,751 shares of the stock were exchanged, compared to its average volume of 686,355. The stock has a market capitalization of $1,874.20, a PE ratio of 38.64, a PEG ratio of 1.66 and a beta of 2.15. Financial Engines has a 1 year low of $24.45 and a 1 year high of $45.75.

Financial Engines (NASDAQ:FNGN) last announced its quarterly earnings data 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. The firm had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $124.11 million. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. analysts forecast that Financial Engines will post 1.04 earnings per share for the current year.

Financial Engines declared that its Board of Directors has authorized a share buyback program on Thursday, November 2nd that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, CEO Lawrence M. Raffone bought 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was purchased at an average price of $28.54 per share, for a total transaction of $428,100.00. Following the completion of the transaction, the chief executive officer now owns 66,540 shares in the company, valued at $1,899,051.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake R. Grossman bought 18,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average price of $28.71 per share, with a total value of $516,780.00. Following the transaction, the director now owns 43,726 shares of the company’s stock, valued at approximately $1,255,373.46. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 15,431 shares of company stock valued at $567,364. 9.27% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in FNGN. Strs Ohio lifted its position in Financial Engines by 109.1% during the first quarter. Strs Ohio now owns 2,300 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 1,200 shares during the last quarter. Victory Capital Management Inc. lifted its position in Financial Engines by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 464 shares during the last quarter. BlackRock Inc. lifted its position in Financial Engines by 100.3% during the first quarter. BlackRock Inc. now owns 3,977 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 1,991 shares during the last quarter. Riverhead Capital Management LLC lifted its position in Financial Engines by 82.4% during the second quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock valued at $167,000 after purchasing an additional 2,061 shares during the last quarter. Finally, PineBridge Investments L.P. lifted its position in Financial Engines by 6.0% during the second quarter. PineBridge Investments L.P. now owns 6,706 shares of the asset manager’s stock valued at $173,000 after purchasing an additional 382 shares during the last quarter.

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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.

Analyst Recommendations for Financial Engines (NASDAQ:FNGN)

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