Financial Engines Inc (FNGN) Given Consensus Recommendation of “Hold” by Brokerages
Financial Engines Inc (NASDAQ:FNGN) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $36.33.
Several analysts recently weighed in on FNGN shares. Zacks Investment Research upgraded Financial Engines from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, October 10th. William Blair downgraded Financial Engines from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. Raymond James Financial restated an “underperform” rating on shares of Financial Engines in a research report on Friday, November 3rd. Northland Securities restated a “buy” rating on shares of Financial Engines in a research report on Friday, November 3rd. Finally, DA Davidson restated a “buy” rating and set a $38.00 price objective on shares of Financial Engines in a research report on Monday, November 6th.
Shares of Financial Engines (NASDAQ:FNGN) opened at $29.15 on Friday. Financial Engines has a 1 year low of $24.45 and a 1 year high of $45.75. The firm has a market capitalization of $1,852.04, a price-to-earnings ratio of 37.86, a P/E/G ratio of 1.64 and a beta of 2.15.
Financial Engines declared that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that permits the company to repurchase $60.00 million in shares. This repurchase authorization permits the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Thursday, December 14th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.96%. Financial Engines’s payout ratio is presently 36.36%.
In related news, Director Blake R. Grossman purchased 18,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was bought 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 owns 43,726 shares in the company, valued at approximately $1,255,373.46. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lawrence M. Raffone purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of $28.54 per share, with a total value of $428,100.00. Following the purchase, the chief executive officer now owns 66,540 shares of the company’s stock, valued at approximately $1,899,051.60. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 15,431 shares of company stock valued at $567,364. Insiders own 9.27% of the company’s stock.
Several hedge funds have recently modified their holdings of FNGN. Schwab Charles Investment Management Inc. increased its stake in shares of Financial Engines by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 258,777 shares of the asset manager’s stock valued at $9,472,000 after buying an additional 11,249 shares during the period. Victory Capital Management Inc. increased its stake in shares of Financial Engines by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after buying an additional 464 shares during the period. Neuberger Berman Group LLC increased its stake in shares of 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 buying an additional 80 shares during the period. Swiss National Bank increased its stake in shares of Financial Engines by 2.2% in the second quarter. Swiss National Bank now owns 99,100 shares of the asset manager’s stock valued at $3,627,000 after buying an additional 2,100 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of Financial Engines by 82.4% in the second quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock valued at $167,000 after buying an additional 2,061 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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