Financial Engines (NASDAQ:FNGN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday. The brokerage currently has a $34.00 target price on the asset manager’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.33% from the stock’s previous close.

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. “

Other analysts have also issued reports about the company. BidaskClub raised Financial Engines from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. DA Davidson reaffirmed a “buy” rating and issued a $38.00 target price on shares of Financial Engines in a research report on Monday, November 6th. Northland Securities reaffirmed a “buy” rating on shares of Financial Engines in a research report on Friday, November 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Financial Engines in a research report on Wednesday. Finally, TheStreet downgraded Financial Engines from a “b-” rating to a “c” rating in a research report on Friday, November 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.75.

Financial Engines (NASDAQ FNGN) traded up $0.85 during trading hours on Friday, hitting $30.00. The stock had a trading volume of 394,443 shares, compared to its average volume of 639,946. Financial Engines has a 1-year low of $24.45 and a 1-year high of $45.75. The company has a market cap of $1,900.00, a price-to-earnings ratio of 38.96, a P/E/G ratio of 1.67 and a beta of 2.15.

Financial Engines (NASDAQ:FNGN) last posted its earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $122.20 million for the quarter, compared to analyst estimates of $124.11 million. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. equities analysts predict that Financial Engines will post 1.04 EPS for the current year.

Financial Engines announced that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that permits the company to buyback $60.00 million in shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other Financial Engines news, EVP Christopher L. Jones sold 6,982 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $36.51, for a total transaction of $254,912.82. Following the completion of the sale, the executive vice president now directly owns 40,963 shares in the company, valued at $1,495,559.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blake R. Grossman bought 18,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were acquired at an average price of $28.71 per share, with a total value of $516,780.00. Following the completion of the purchase, the director now directly owns 43,726 shares of the company’s stock, valued at $1,255,373.46. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 15,431 shares of company stock valued at $567,364. 9.27% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in Financial Engines by 0.5% in the second quarter. Bank of Montreal Can now owns 9,379 shares of the asset manager’s stock valued at $343,000 after purchasing an additional 47 shares during the period. Neuberger Berman Group LLC increased its holdings in Financial Engines by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 9,673 shares of the asset manager’s stock valued at $354,000 after purchasing an additional 80 shares during the period. Louisiana State Employees Retirement System increased its holdings in Financial Engines by 0.4% in the third quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the asset manager’s stock valued at $698,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System increased its holdings in Financial Engines by 0.4% in the third quarter. Arizona State Retirement System now owns 27,592 shares of the asset manager’s stock valued at $820,000 after purchasing an additional 100 shares during the period. Finally, Royal Bank of Canada increased its holdings in Financial Engines by 1.6% in the first quarter. Royal Bank of Canada now owns 8,381 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 136 shares during the period.

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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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