Financial Engines (NASDAQ:FNGN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, January 3rd.
According to Zacks, “Financial Engines, Inc. is an independent investment advisor that provides personalized retirement plans for saving, investing, and retirement income. Financial Engines offers both online advice and professional management to meet the needs of different investors. Its services include Professional Management, a discretionary managed account service designed for plan participants who want personalized and professional portfolio management services, investment advice, and retirement help from an independent investment advisor; Online Advice, a nondiscretionary Internet-based service that offers personalized advice to plan participants who wish to take an active role in personally managing their retirement portfolios; and Retirement Evaluation, a retirement readiness assessment provided to plan participants upon plan rollout. Financial Engines, Inc. is headquartered in Palo Alto, California. “
A number of other research analysts have also recently issued reports on the stock. Raymond James Financial reiterated an “underperform” rating on shares of Financial Engines in a research note on Friday, November 3rd. William Blair cut shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. BidaskClub cut shares of Financial Engines from a “hold” rating to a “sell” rating in a research report on Saturday, December 16th. Northland Securities restated a “buy” rating on shares of Financial Engines in a research report on Friday, November 3rd. Finally, Barclays began coverage on shares of Financial Engines in a research report on Friday, September 8th. They issued an “overweight” rating and a $38.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.25.
Financial Engines (NASDAQ FNGN) traded up $0.30 during trading hours on Wednesday, hitting $29.00. 1,241,500 shares of the stock were exchanged, compared to its average volume of 659,963. Financial Engines has a 52 week low of $24.45 and a 52 week high of $45.75. The company has a market capitalization of $1,890.00, a PE ratio of 37.66, a P/E/G ratio of 1.75 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 net margin of 10.56% and a return on equity of 7.60%. The company had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $124.11 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. Financial Engines’s quarterly revenue was up 8.7% compared to the same quarter last year. research analysts forecast that Financial Engines will post 1.04 EPS for the current year.
Financial Engines announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 2nd that allows the company to buyback $60.00 million in shares. This buyback authorization allows the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In other news, insider Jeffrey C. Grace sold 7,783 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $36.83, for a total value of $286,647.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Jerome Campbell sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $36.78, for a total transaction of $73,560.00. Following the completion of the transaction, the executive vice president now directly owns 547 shares of the company’s stock, valued at $20,118.66. The disclosure for this sale can be found here. Insiders have sold a total of 25,214 shares of company stock valued at $927,572 in the last quarter. Corporate insiders own 9.27% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in FNGN. Victory Capital Management Inc. boosted its stake in Financial Engines by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock worth $113,000 after purchasing an additional 464 shares during the period. Riverhead Capital Management LLC boosted its stake in Financial Engines by 82.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock worth $167,000 after purchasing an additional 2,061 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Financial Engines by 11.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock worth $188,000 after purchasing an additional 520 shares during the period. Quantbot Technologies LP acquired a new position in Financial Engines in the 3rd quarter worth $206,000. Finally, Shelton Capital Management acquired a new position in Financial Engines in the 2nd quarter worth $208,000.
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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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