Financial Engines Inc. (FNGN) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Financial Engines Inc. (NASDAQ:FNGN) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $33.00 price target on the stock.
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 research analysts also recently issued reports on the stock. William Blair reiterated an outperform rating on shares of Financial Engines in a research report on Wednesday, August 3rd. Jefferies Group reiterated a buy rating on shares of Financial Engines in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $32.33.
Shares of Financial Engines (NASDAQ:FNGN) traded down 1.48% on Wednesday, reaching $29.20. 9,168 shares of the company’s stock traded hands. Financial Engines has a 52 week low of $23.22 and a 52 week high of $40.00. The company’s 50-day moving average is $30.65 and its 200-day moving average is $29.01. The firm has a market capitalization of $1.80 billion, a P/E ratio of 60.46 and a beta of 1.91.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The business had revenue of $106.20 million for the quarter, compared to the consensus estimate of $103.16 million. Financial Engines had a net margin of 7.75% and a return on equity of 7.20%. The firm’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. Equities research analysts anticipate that Financial Engines will post $1.10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 16th. This represents a $0.28 dividend on an annualized basis and a yield of 0.94%. Financial Engines’s payout ratio is presently 57.14%.
In related news, EVP Christopher L. Jones sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $29.88, for a total transaction of $298,800.00. Following the completion of the sale, the executive vice president now directly owns 88,035 shares of the company’s stock, valued at approximately $2,630,485.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lawrence M. Raffone sold 7,683 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $32.06, for a total value of $246,316.98. Following the sale, the chief executive officer now directly owns 35,910 shares of the company’s stock, valued at $1,151,274.60. The disclosure for this sale can be found here. Company insiders own 15.97% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Villere ST Denis J & Co. LLC boosted its stake in Financial Engines by 8.5% in the second quarter. Villere ST Denis J & Co. LLC now owns 2,786,911 shares of the company’s stock worth $72,097,000 after buying an additional 218,295 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Financial Engines by 9.5% in the second quarter. Capstone Asset Management Co. now owns 18,473 shares of the company’s stock worth $478,000 after buying an additional 1,610 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Financial Engines by 114.7% in the second quarter. BNP Paribas Arbitrage SA now owns 16,539 shares of the company’s stock worth $428,000 after buying an additional 8,836 shares during the last quarter. Royal Bank of Canada boosted its stake in Financial Engines by 1.6% in the first quarter. Royal Bank of Canada now owns 8,381 shares of the company’s stock worth $263,000 after buying an additional 136 shares during the last quarter. Finally, Granahan Investment Management Inc. MA boosted its stake in Financial Engines by 103.8% in the first quarter. Granahan Investment Management Inc. MA now owns 299,081 shares of the company’s stock worth $9,400,000 after buying an additional 152,300 shares during the last quarter.
Financial Engines Company Profile
Financial Engines, Inc provides independent, technology-enabled portfolio management services, investment advice and retirement income services to participants in employer-sponsored defined contribution plans, such as 401(k) plans. 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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