Zacks Investment Research upgraded shares of Financial Engines, Inc. (NASDAQ:FNGN) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $42.00 price objective on the asset manager’s 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 firms have also recently weighed in on FNGN. Sidoti initiated coverage on Financial Engines in a report on Monday, July 10th. They issued a buy rating on the stock. TheStreet raised Financial Engines from a c+ rating to a b- rating in a report on Thursday, April 27th. BidaskClub cut Financial Engines from a sell rating to a strong sell rating in a report on Saturday, July 1st. Jefferies Group LLC reaffirmed a buy rating and issued a $47.00 price target on shares of Financial Engines in a report on Tuesday, March 21st. Finally, DA Davidson initiated coverage on Financial Engines in a report on Wednesday, June 21st. They issued a buy rating and a $44.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $44.33.
Shares of Financial Engines (NASDAQ:FNGN) traded down 0.26% during mid-day trading on Wednesday, hitting $37.85. 220,258 shares of the company were exchanged. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 64.37 and a beta of 2.21. Financial Engines has a 12-month low of $25.00 and a 12-month high of $45.75. The firm has a 50 day moving average of $38.82 and a 200 day moving average of $39.69.
Financial Engines (NASDAQ:FNGN) last released its quarterly earnings results on Thursday, May 4th. The asset manager reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Financial Engines had a return on equity of 7.24% and a net margin of 8.39%. The firm had revenue of $114.10 million for the quarter, compared to analysts’ expectations of $115.78 million. During the same quarter last year, the firm posted $0.24 EPS. The company’s revenue was up 23.9% compared to the same quarter last year. Equities research analysts forecast that Financial Engines will post $1.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Wednesday, June 14th were given a dividend of $0.07 per share. The ex-dividend date was Monday, June 12th. This represents a $0.28 annualized dividend and a dividend yield of 0.74%. Financial Engines’s dividend payout ratio (DPR) is presently 48.28%.
In other news, CFO Raymond J. Sims sold 24,649 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $42.53, for a total transaction of $1,048,321.97. Following the transaction, the chief financial officer now directly owns 26,358 shares in the company, valued at approximately $1,121,005.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Jerome Campbell sold 2,000 shares of the stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $40.35, for a total value of $80,700.00. Following the transaction, the executive vice president now owns 39,462 shares in the company, valued at $1,592,291.70. The disclosure for this sale can be found here. Insiders have sold a total of 128,345 shares of company stock worth $5,234,368 over the last quarter. Corporate insiders own 15.97% of the company’s stock.
Several institutional investors have recently made changes to their positions in FNGN. BlackRock Inc. raised its position in shares of Financial Engines by 163,234.9% in the first quarter. BlackRock Inc. now owns 7,137,735 shares of the asset manager’s stock valued at $310,848,000 after buying an additional 7,133,365 shares during the period. Wellington Management Group LLP purchased a new position in shares of Financial Engines during the first quarter valued at approximately $233,931,000. Vanguard Group Inc. raised its position in shares of Financial Engines by 11.3% in the first quarter. Vanguard Group Inc. now owns 4,960,319 shares of the asset manager’s stock valued at $216,023,000 after buying an additional 504,246 shares during the period. Clearbridge Investments LLC raised its position in shares of Financial Engines by 7.2% in the first quarter. Clearbridge Investments LLC now owns 1,867,304 shares of the asset manager’s stock valued at $81,321,000 after buying an additional 125,382 shares during the period. Finally, Champlain Investment Partners LLC raised its position in shares of Financial Engines by 1.8% in the first quarter. Champlain Investment Partners LLC now owns 1,737,370 shares of the asset manager’s stock valued at $75,662,000 after buying an additional 30,160 shares during the period.
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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