Financial Engines (NASDAQ:FNGN) Lowered to Strong Sell at Zacks Investment Research

Financial Engines (NASDAQ:FNGN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released 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. “

Several other equities research analysts have also weighed in on FNGN. DA Davidson reiterated a “buy” rating and set a $38.00 price objective on shares of Financial Engines in a research note on Monday, November 6th. Northland Securities reiterated a “buy” rating on shares of Financial Engines in a research note on Friday, November 3rd. TheStreet cut shares of Financial Engines from a “b-” rating to a “c” rating in a research report on Friday, November 24th. BidaskClub upgraded shares of Financial Engines from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, William Blair cut shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Financial Engines has an average rating of “Hold” and a consensus target price of $39.25.

Shares of Financial Engines (NASDAQ FNGN) traded up $0.30 on Wednesday, reaching $29.00. The company’s stock had a trading volume of 1,241,500 shares, compared to its average volume of 659,963. The firm has a market cap of $1,890.00, a P/E ratio of 37.66, a PEG ratio of 1.75 and a beta of 2.15. Financial Engines has a 52 week low of $24.45 and a 52 week high of $45.75.

Financial Engines (NASDAQ:FNGN) last announced its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate 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 period in the previous year, the company earned $0.31 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. analysts expect that Financial Engines will post 1.04 EPS for the current year.

Financial Engines declared that its board has initiated a share 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In other news, insider Jeffrey C. Grace sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $37.00, for a total transaction of $74,000.00. Following the completion of the transaction, the insider now directly owns 5,234 shares of the company’s stock, valued at approximately $193,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lawrence M. Raffone purchased 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were purchased at an average cost of $28.54 per share, with a total value of $428,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 66,540 shares in the company, valued at $1,899,051.60. The disclosure for this purchase can be found here. Insiders sold a total of 25,214 shares of company stock worth $927,572 over the last quarter. 9.27% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of FNGN. Victory Capital Management Inc. grew its position in shares of Financial Engines by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock worth $113,000 after buying an additional 464 shares during the period. Riverhead Capital Management LLC grew its position in shares of Financial Engines by 82.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock worth $167,000 after buying an additional 2,061 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Financial Engines by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock worth $188,000 after buying an additional 520 shares during the period. Quantbot Technologies LP acquired a new position in Financial Engines during the third quarter valued at approximately $206,000. Finally, Shelton Capital Management acquired a new position in Financial Engines during the second quarter valued at approximately $208,000.

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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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