Financial Engines Inc (FNGN) Sees Large Decrease in Short Interest

Financial Engines Inc (NASDAQ:FNGN) saw a large drop in short interest in the month of January. As of January 12th, there was short interest totalling 4,492,065 shares, a drop of 23.2% from the December 29th total of 5,848,249 shares. Approximately 7.2% of the company’s shares are sold short. Based on an average daily trading volume, of 729,621 shares, the short-interest ratio is currently 6.2 days.

FNGN has been the subject of a number of analyst reports. Zacks Investment Research cut Financial Engines from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 3rd. Barclays cut Financial Engines from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $30.00 to $33.00 in a research note on Monday, January 8th. BidaskClub cut Financial Engines from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. ValuEngine cut Financial Engines from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, Northland Securities reaffirmed a “buy” rating on shares of Financial Engines in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Financial Engines currently has a consensus rating of “Hold” and an average target price of $35.75.

Financial Engines (NASDAQ:FNGN) opened at $29.45 on Friday. Financial Engines has a 52 week low of $24.45 and a 52 week high of $45.75. The stock has a market capitalization of $1,867.85, a PE ratio of 37.92, a price-to-earnings-growth ratio of 1.58 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. The firm had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $124.11 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. equities research analysts anticipate that Financial Engines will post 1.04 EPS for the current fiscal year.

Financial Engines declared that its board has initiated a share repurchase plan on Thursday, November 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the asset manager to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Thursday, December 14th were paid a $0.07 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.95%. Financial Engines’s payout ratio is 36.36%.

In related news, Director Blake R. Grossman acquired 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was acquired at an average cost 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 in the company, valued at $1,255,373.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lawrence M. Raffone acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average cost of $28.54 per share, with a total value of $428,100.00. Following the completion of the purchase, the chief executive officer now owns 66,540 shares of the company’s stock, valued at $1,899,051.60. The disclosure for this purchase can be found here. 9.27% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of FNGN. Janus Henderson Group PLC acquired a new position in Financial Engines in the second quarter valued at about $106,955,000. Rice Hall James & Associates LLC acquired a new position in Financial Engines in the fourth quarter valued at about $8,276,000. Bamco Inc. NY grew its stake in Financial Engines by 6.3% in the third quarter. Bamco Inc. NY now owns 4,581,002 shares of the asset manager’s stock valued at $159,190,000 after acquiring an additional 269,500 shares during the period. Assenagon Asset Management S.A. acquired a new position in Financial Engines in the third quarter valued at about $9,131,000. Finally, Vanguard Group Inc. grew its stake in Financial Engines by 5.3% in the second quarter. Vanguard Group Inc. now owns 5,221,858 shares of the asset manager’s stock valued at $191,120,000 after acquiring an additional 261,539 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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