Financial Engines Inc (NASDAQ:FNGN) – Jefferies Group upped their Q1 2018 EPS estimates for Financial Engines in a note issued to investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst S. Thind now anticipates that the asset manager will post earnings of $0.33 per share for the quarter, up from their previous estimate of $0.27. Jefferies Group has a “Buy” rating and a $38.00 price objective on the stock. Jefferies Group also issued estimates for Financial Engines’ Q2 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.38 EPS, FY2018 earnings at $1.40 EPS and FY2019 earnings at $1.69 EPS.
FNGN has been the subject of several other research reports. Zacks Investment Research raised shares of Financial Engines from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research report on Friday, January 19th. Barclays lowered shares of Financial Engines from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $30.00 to $33.00 in a research report on Monday, January 8th. BidaskClub downgraded shares of Financial Engines from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. ValuEngine downgraded shares of Financial Engines from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, Northland Securities reiterated 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, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Financial Engines has an average rating of “Hold” and an average target price of $35.75.
Shares of Financial Engines (NASDAQ:FNGN) traded up $0.20 during mid-day trading on Friday, reaching $27.70. 413,418 shares of the company traded hands, compared to its average volume of 399,177. Financial Engines has a 1 year low of $24.45 and a 1 year high of $45.75. The firm has a market capitalization of $1,753.88, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 1.49 and a beta of 1.89.
Financial Engines announced that its board has initiated a stock repurchase 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 purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Blake R. Grossman bought 18,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $28.71 per share, for a total transaction of $516,780.00. Following the completion of the purchase, the director now owns 43,726 shares of the company’s stock, valued at $1,255,373.46. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lawrence M. Raffone bought 15,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was purchased at an average price of $28.54 per share, with a total value of $428,100.00. Following the completion of the purchase, the chief executive officer now directly owns 66,540 shares of the company’s stock, valued at approximately $1,899,051.60. The disclosure for this purchase can be found here. 9.27% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in FNGN. Janus Henderson Group PLC purchased a new position in shares of Financial Engines in the second quarter valued at $106,955,000. BlackRock Inc. raised its holdings in Financial Engines by 4.6% in the fourth quarter. BlackRock Inc. now owns 7,864,859 shares of the asset manager’s stock valued at $238,305,000 after acquiring an additional 346,489 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in Financial Engines in the fourth quarter valued at $8,276,000. Bamco Inc. NY raised its holdings in Financial Engines by 6.3% in the third quarter. Bamco Inc. NY now owns 4,581,002 shares of the asset manager’s stock valued at $159,190,000 after acquiring an additional 269,500 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Financial Engines in the third quarter valued at $9,131,000.
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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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