Kayne Anderson Rudnick Investment Management LLC increased its holdings in Financial Engines, Inc. (NASDAQ:FNGN) by 9.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 402,170 shares of the asset manager’s stock after buying an additional 34,652 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.64% of Financial Engines worth $13,975,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its stake in Financial Engines by 28.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,047 shares of the asset manager’s stock worth $558,000 after buying an additional 3,572 shares in the last quarter. Comerica Bank raised its stake in Financial Engines by 36.6% in the third quarter. Comerica Bank now owns 83,391 shares of the asset manager’s stock worth $2,977,000 after buying an additional 22,336 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Financial Engines by 4.0% in the third quarter. Bank of New York Mellon Corp now owns 726,176 shares of the asset manager’s stock worth $25,234,000 after buying an additional 28,036 shares in the last quarter. Capital Management Associates NY bought a new position in Financial Engines in the third quarter worth approximately $382,000. Finally, Rhumbline Advisers raised its stake in Financial Engines by 5.9% in the third quarter. Rhumbline Advisers now owns 120,705 shares of the asset manager’s stock worth $4,194,000 after buying an additional 6,718 shares in the last quarter.
In related news, EVP Michael Jerome Campbell sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $31.75, for a total value of $63,500.00. Following the transaction, the executive vice president now directly owns 41,020 shares of the company’s stock, valued at approximately $1,302,385. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Martin sold 4,109,128 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $33.05, for a total value of $135,806,680.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,151,762 shares of company stock worth $137,335,013. Insiders own 9.27% of the company’s stock.
Shares of Financial Engines, Inc. (NASDAQ:FNGN) traded up $0.05 during mid-day trading on Friday, hitting $27.35. The stock had a trading volume of 378,000 shares, compared to its average volume of 378,095. The firm has a market capitalization of $1,728.57, a P/E ratio of 28.74, 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 analysts’ consensus estimates of $0.36. The business had revenue of $122.20 million for the quarter, compared to the consensus estimate of $124.11 million. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. equities research analysts forecast that Financial Engines, Inc. will post 1.03 earnings per share for the current year.
Financial Engines declared that its board has initiated a stock repurchase plan on Thursday, November 2nd that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, December 13th. Financial Engines’s payout ratio is presently 36.36%.
FNGN has been the subject of a number of recent research reports. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Financial Engines in a research note on Friday, November 3rd. William Blair downgraded shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Barclays PLC initiated coverage on shares of Financial Engines in a research note on Friday, September 8th. They issued an “overweight” rating and a $38.00 price objective for the company. Zacks Investment Research raised shares of Financial Engines from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, November 2nd. Finally, Northland Securities reissued a “buy” rating on shares of Financial Engines in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $38.50.
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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