Wells Fargo & Company MN cut its holdings in Financial Engines, Inc. (NASDAQ:FNGN) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 619,692 shares of the asset manager’s stock after selling 90,743 shares during the quarter. Wells Fargo & Company MN owned approximately 0.99% of Financial Engines worth $22,681,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Financial Engines by 163,234.9% in the first quarter. BlackRock Inc. now owns 7,137,735 shares of the asset manager’s stock valued at $310,848,000 after buying an additional 7,133,365 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Financial Engines in the first quarter valued at $233,931,000. Vanguard Group Inc. increased its stake in shares of Financial Engines by 11.3% in the first quarter. Vanguard Group Inc. now owns 4,960,319 shares of the asset manager’s stock valued at $216,023,000 after buying an additional 504,246 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Financial Engines by 7.2% in the first quarter. Clearbridge Investments LLC now owns 1,867,304 shares of the asset manager’s stock valued at $81,321,000 after buying an additional 125,382 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Financial Engines by 1.8% in the first quarter. Champlain Investment Partners LLC now owns 1,737,370 shares of the asset manager’s stock valued at $75,662,000 after buying an additional 30,160 shares in the last quarter.
A number of analysts have recently weighed in on the company. DA Davidson assumed coverage on Financial Engines in a research note on Wednesday, June 21st. They issued a “buy” rating and a $44.00 target price for the company. Zacks Investment Research upgraded Financial Engines from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Wednesday, July 12th. BidaskClub cut Financial Engines from a “sell” rating to a “strong sell” rating in a report on Saturday, July 1st. Sidoti assumed coverage on Financial Engines in a report on Monday, July 10th. They issued a “buy” rating on the stock. Finally, Barclays PLC assumed coverage on Financial Engines in a report on Friday, September 8th. They issued an “overweight” rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $42.75.
Financial Engines, Inc. (NASDAQ FNGN) opened at 32.80 on Monday. The company has a 50-day moving average price of $33.65 and a 200 day moving average price of $38.19. The company has a market cap of $2.07 billion, a PE ratio of 50.46 and a beta of 2.22. Financial Engines, Inc. has a 12-month low of $25.00 and a 12-month high of $45.75.
Financial Engines (NASDAQ:FNGN) last issued its earnings results on Tuesday, August 8th. The asset manager reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Financial Engines had a return on equity of 7.31% and a net margin of 8.98%. The firm had revenue of $118.47 million during the quarter, compared to analyst estimates of $119.94 million. During the same period in the previous year, the company earned $0.28 EPS. Financial Engines’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts forecast that Financial Engines, Inc. will post $1.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.85%. Financial Engines’s payout ratio is presently 43.75%.
In other Financial Engines news, Director Michael E. Martin sold 4,109,128 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $33.05, for a total value of $135,806,680.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Jerome Campbell sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $31.75, for a total value of $63,500.00. Following the completion of the transaction, the executive vice president now directly owns 41,020 shares of the company’s stock, valued at approximately $1,302,385. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,123,922 shares of company stock valued at $136,340,091. Insiders own 15.97% of the company’s stock.
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Financial Engines 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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