Financial Engines (NASDAQ:FNGN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday, January 3rd.
A number of other research analysts have also commented on FNGN. Barclays began coverage on Financial Engines in a research report on Friday, September 8th. They issued an “overweight” rating and a $38.00 price objective on the stock. Zacks Investment Research upgraded Financial Engines from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, October 10th. William Blair lowered Financial Engines from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. Raymond James Financial reiterated an “underperform” rating on shares of Financial Engines in a research report on Friday, November 3rd. Finally, Northland Securities reiterated a “buy” rating on shares of Financial Engines in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $39.25.
Financial Engines (FNGN) traded up $0.30 during midday trading on Wednesday, reaching $29.00. The company had a trading volume of 1,241,500 shares, compared to its average volume of 659,963. The company has a market cap of $1,890.00, a price-to-earnings ratio of 37.66, a PEG ratio of 1.75 and a beta of 2.15. Financial Engines has a 1-year low of $24.45 and a 1-year high of $45.75.
Financial Engines (NASDAQ:FNGN) last released its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business had revenue of $122.20 million for the quarter, compared to analyst estimates of $124.11 million. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. Financial Engines’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. equities analysts predict that Financial Engines will post 1.04 EPS for the current year.
Financial Engines declared that its board has initiated a stock buyback program 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 programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Financial Engines news, CEO Lawrence M. Raffone acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were acquired at an average price of $28.54 per share, with a total value of $428,100.00. Following the purchase, the chief executive officer now owns 66,540 shares of the company’s stock, valued at approximately $1,899,051.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Blake R. Grossman acquired 18,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were acquired at an average cost of $28.71 per share, for a total transaction of $516,780.00. Following the purchase, the director now directly owns 43,726 shares in the company, valued at approximately $1,255,373.46. 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 90 days. 9.27% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Bamco Inc. NY raised its stake in shares of Financial Engines by 6.3% in the 3rd quarter. Bamco Inc. NY now owns 4,581,002 shares of the asset manager’s stock valued at $159,190,000 after purchasing an additional 269,500 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Financial Engines in the 2nd quarter valued at about $106,955,000. State Street Corp raised its stake in shares of Financial Engines by 8.6% in the 2nd quarter. State Street Corp now owns 1,441,265 shares of the asset manager’s stock valued at $52,751,000 after purchasing an additional 114,580 shares during the period. Vanguard Group Inc. raised its stake in shares of Financial Engines by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,221,858 shares of the asset manager’s stock valued at $191,120,000 after purchasing an additional 261,539 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Financial Engines in the 3rd quarter valued at about $9,131,000.
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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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