State Board of Administration of Florida Retirement System Has $1,514,000 Holdings in Financial Engines, Inc. (FNGN)
State Board of Administration of Florida Retirement System held its position in shares of Financial Engines, Inc. (NASDAQ:FNGN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,367 shares of the asset manager’s stock at the close of the second quarter. State Board of Administration of Florida Retirement System owned 0.07% of Financial Engines worth $1,514,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of FNGN. BlackRock Inc. boosted its position in Financial Engines by 163,234.9% in the first quarter. BlackRock Inc. now owns 7,137,735 shares of the asset manager’s stock worth $310,848,000 after purchasing an additional 7,133,365 shares during the last quarter. Wellington Management Group LLP purchased a new position in Financial Engines in the first quarter worth $233,931,000. Vanguard Group Inc. boosted its position in Financial Engines by 11.3% in the first quarter. Vanguard Group Inc. now owns 4,960,319 shares of the asset manager’s stock worth $216,023,000 after purchasing an additional 504,246 shares during the last quarter. Next Century Growth Investors LLC purchased a new position in Financial Engines in the first quarter worth $9,957,000. Finally, Dimensional Fund Advisors LP boosted its position in Financial Engines by 75.3% in the first quarter. Dimensional Fund Advisors LP now owns 528,752 shares of the asset manager’s stock worth $23,025,000 after purchasing an additional 227,159 shares during the last quarter.
Financial Engines, Inc. (NASDAQ:FNGN) opened at 31.85 on Friday. Financial Engines, Inc. has a 12 month low of $25.00 and a 12 month high of $45.75. The stock’s 50 day moving average price is $33.98 and its 200-day moving average price is $38.47. The stock has a market cap of $2.01 billion, a PE ratio of 49.00 and a beta of 2.22.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings data on Tuesday, August 8th. The asset manager reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). Financial Engines had a return on equity of 7.31% and a net margin of 8.98%. The firm had revenue of $118.47 million during the quarter, compared to the consensus estimate of $119.94 million. During the same period in the previous year, the firm earned $0.28 EPS. The business’s revenue was up 11.5% on a year-over-year basis. Analysts anticipate that Financial Engines, Inc. will post $1.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Tuesday, September 19th. Financial Engines’s payout ratio is currently 43.75%.
Several research analysts have weighed in on the company. Barclays PLC assumed 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 cut Financial Engines from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Sidoti assumed coverage on Financial Engines in a research report on Monday, July 10th. They issued a “buy” rating on the stock. BidaskClub cut Financial Engines from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 1st. Finally, DA Davidson assumed coverage on Financial Engines in a research report on Wednesday, June 21st. They issued a “buy” rating and a $44.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $42.75.
In related news, EVP Michael Jerome Campbell sold 2,000 shares of Financial Engines stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $37.55, for a total transaction of $75,100.00. Following the transaction, the executive vice president now directly owns 41,020 shares in the company, valued at $1,540,301. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher L. Jones sold 5,120 shares of Financial Engines stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $38.45, for a total value of $196,864.00. Following the transaction, the executive vice president now owns 60,089 shares in the company, valued at $2,310,422.05. The disclosure for this sale can be found here. Insiders sold 4,127,042 shares of company stock valued at $136,472,855 in the last ninety days. 15.97% of the stock is currently owned by corporate insiders.
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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