Zacks Investment Research upgraded shares of Financial Engines Inc. (NASDAQ:FNGN) from a hold rating to a buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $33.00 target price 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. “
FNGN has been the subject of a number of other reports. Jefferies Group reaffirmed a buy rating on shares of Financial Engines in a research note on Wednesday, August 3rd. William Blair reaffirmed an outperform rating on shares of Financial Engines in a research note 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 company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $32.33.
Shares of Financial Engines (NASDAQ:FNGN) traded up 1.74% during mid-day trading on Wednesday, hitting $29.31. 6,986 shares of the stock were exchanged. The stock has a market cap of $1.81 billion, a PE ratio of 60.68 and a beta of 1.91. The stock’s 50 day moving average is $30.53 and its 200-day moving average is $29.00. Financial Engines has a 12 month low of $23.22 and a 12 month high of $40.00.
Financial Engines (NASDAQ:FNGN) last issued its earnings results on Tuesday, August 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The firm earned $106.20 million during the quarter, compared to analyst estimates of $103.16 million. Financial Engines had a net margin of 7.75% and a return on equity of 7.20%. The business’s revenue was up 35.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, analysts anticipate that Financial Engines will post $1.10 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th were issued a $0.07 dividend. The ex-dividend date was Friday, September 16th. This represents a $0.28 dividend on an annualized basis and a yield of 0.97%. Financial Engines’s dividend payout ratio is presently 57.14%.
In other Financial Engines news, EVP Christopher L. Jones sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $28.23, for a total value of $282,300.00. Following the completion of the transaction, the executive vice president now directly owns 91,564 shares in the company, valued at $2,584,851.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lawrence M. Raffone sold 7,683 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $32.06, for a total transaction of $246,316.98. Following the completion of the transaction, the chief executive officer now owns 35,910 shares of the company’s stock, valued at $1,151,274.60. The disclosure for this sale can be found here. 15.97% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Financial Engines by 13.1% in the second quarter. BlackRock Inc. now owns 4,498 shares of the company’s stock worth $116,000 after buying an additional 521 shares in the last quarter. Paradigm Asset Management Co. LLC increased its position in Financial Engines by 16.1% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,750 shares of the company’s stock valued at $149,000 after buying an additional 797 shares during the period. PineBridge Investments L.P. increased its position in Financial Engines by 6.0% in the second quarter. PineBridge Investments L.P. now owns 6,706 shares of the company’s stock valued at $173,000 after buying an additional 382 shares during the period. Teacher Retirement System of Texas increased its position in Financial Engines by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 7,191 shares of the company’s stock valued at $186,000 after buying an additional 875 shares during the period. Finally, Commonwealth Equity Services Inc bought a new position in Financial Engines during the second quarter valued at about $204,000.
About Financial Engines
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Financial Engines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Engines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.