Gamco Investors INC. ET AL purchased a new stake in shares of Financial Engines, Inc. (NASDAQ:FNGN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,000 shares of the asset manager’s stock, valued at approximately $278,000.
Several other hedge funds have also recently made changes to their positions in FNGN. Janus Henderson Group PLC acquired a new position in shares of Financial Engines during the 2nd quarter valued at about $106,955,000. Assenagon Asset Management S.A. acquired a new position in Financial Engines in the third quarter valued at about $9,131,000. Vanguard Group Inc. lifted its position 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 buying an additional 261,539 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Financial Engines by 44.5% in the second quarter. Dimensional Fund Advisors LP now owns 763,937 shares of the asset manager’s stock valued at $27,960,000 after buying an additional 235,185 shares during the last quarter. Finally, State Street Corp lifted its position in Financial Engines by 10.7% in the first quarter. State Street Corp now owns 1,326,685 shares of the asset manager’s stock valued at $57,777,000 after buying an additional 128,770 shares during the last quarter.
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A number of research firms have commented on FNGN. Barclays PLC decreased their target price on shares of Financial Engines from $38.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, November 6th. 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. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Financial Engines in a research report on Friday, November 3rd. Finally, UBS AG cut shares of Financial Engines to an “underperform” rating in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $38.50.
In related news, insider Jeffrey C. Grace sold 6,180 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $37.00, for a total transaction of $228,660.00. Following the sale, the insider now directly owns 9,414 shares in the company, valued at $348,318. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael E. Martin sold 4,109,128 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $33.05, for a total transaction of $135,806,680.40. The disclosure for this sale can be found here. Insiders have sold 4,151,762 shares of company stock worth $137,335,013 over the last 90 days. Insiders own 9.27% of the company’s stock.
Shares of Financial Engines, Inc. (NASDAQ:FNGN) opened at $27.30 on Thursday. The stock has a market cap of $1,722.23, a PE ratio of 28.63, a PEG ratio of 1.85 and a beta of 2.25. Financial Engines, Inc. has a 1 year low of $24.45 and a 1 year high of $45.75.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $122.20 million for 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 business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. research analysts anticipate that Financial Engines, Inc. will post 1.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.03%. Financial Engines’s payout ratio is 36.36%.
Financial Engines declared that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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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