Financial Engines (FNGN) Upgraded at BidaskClub
BidaskClub upgraded shares of Financial Engines (NASDAQ:FNGN) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.
FNGN has been the subject of several other reports. ValuEngine cut shares of Financial Engines from a hold rating to a sell rating in a research report on Sunday, December 31st. Northland Securities reaffirmed a buy rating on shares of Financial Engines in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Financial Engines from a buy rating to a hold rating in a research report on Tuesday, October 31st. TheStreet cut shares of Financial Engines from a b- rating to a c rating in a research report on Friday, November 24th. Finally, Barclays dropped their target price on shares of Financial Engines from $38.00 to $30.00 and set an overweight rating for the company in a research report on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $38.50.
Shares of Financial Engines (FNGN) opened at $31.05 on Wednesday. Financial Engines has a 12-month low of $24.45 and a 12-month high of $45.75. The company has a market cap of $1,969.17, a PE ratio of 32.74, a PEG ratio of 1.75 and a beta of 2.15.
Financial Engines (NASDAQ:FNGN) last posted its earnings results on Thursday, November 2nd. The asset manager reported $0.36 EPS for the quarter, hitting 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 firm had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $124.11 million. During the same period last year, the company posted $0.31 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. analysts predict that Financial Engines will post 1.04 EPS for the current year.
Financial Engines declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that allows the company to buyback $60.00 million in shares. This buyback authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Thursday, December 14th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.90%. Financial Engines’s dividend payout ratio (DPR) is currently 36.36%.
In related news, EVP Gina M. Cruse sold 3,655 shares of Financial Engines stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $36.30, for a total transaction of $132,676.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lawrence M. Raffone purchased 15,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were acquired at an average cost of $28.54 per share, with a total value of $428,100.00. Following the completion of the transaction, the chief executive officer now owns 66,540 shares in the company, valued at $1,899,051.60. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 28,869 shares of company stock valued at $1,060,249. 9.27% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FNGN. Janus Henderson Group PLC purchased a new position in Financial Engines during the 2nd quarter valued at about $106,955,000. Bamco Inc. NY lifted its position in Financial Engines by 6.3% during the 3rd 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 during the period. Assenagon Asset Management S.A. purchased a new position in Financial Engines during the 3rd quarter valued at about $9,131,000. Vanguard Group Inc. increased its stake in Financial Engines by 5.3% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Financial Engines by 31.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,006,003 shares of the asset manager’s stock valued at $34,957,000 after purchasing an additional 242,066 shares in the last quarter.
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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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