BidaskClub upgraded shares of Financial Engines (NASDAQ:FNGN) from a hold rating to a buy rating in a research report report published on Wednesday.
FNGN has been the subject of several other research reports. ValuEngine lowered shares of Financial Engines from a hold rating to a sell rating in a research note on Sunday, December 31st. Northland Securities reissued a buy rating on shares of Financial Engines in a research note on Friday, November 3rd. Zacks Investment Research lowered shares of Financial Engines from a buy rating to a hold rating in a research note on Tuesday, October 31st. TheStreet lowered shares of Financial Engines from a b- rating to a c rating in a research note on Friday, November 24th. Finally, Barclays lowered their price objective on shares of Financial Engines from $38.00 to $30.00 and set an overweight rating for the company in a research note on Monday, November 6th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Financial Engines has an average rating of Hold and an average target price of $38.50.
Shares of Financial Engines (NASDAQ FNGN) remained flat at $$31.10 during mid-day trading on Wednesday. The stock had a trading volume of 567,700 shares, compared to its average volume of 534,800. The company has a market cap of $1,969.17, a PE ratio of 40.39, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. Financial Engines has a one year low of $24.45 and a one year high of $45.75.
Financial Engines announced that its board has authorized a share repurchase program on Thursday, November 2nd that authorizes the company to buyback $60.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, December 14th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.90%. Financial Engines’s payout ratio is currently 36.36%.
In other Financial Engines news, insider Jeffrey C. Grace sold 7,783 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $36.83, for a total value of $286,647.89. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Blake R. Grossman acquired 18,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was purchased at an average cost of $28.71 per share, for a total transaction of $516,780.00. Following the completion of the purchase, the director now directly owns 43,726 shares in the company, valued at approximately $1,255,373.46. The disclosure for this purchase can be found here. In the last three months, insiders have sold 28,869 shares of company stock worth $1,060,249. 9.27% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its position in shares of Financial Engines by 0.7% during the 2nd quarter. Baillie Gifford & Co. now owns 5,599,838 shares of the asset manager’s stock worth $204,954,000 after purchasing an additional 40,874 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Financial Engines by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,221,858 shares of the asset manager’s stock worth $191,120,000 after purchasing an additional 261,539 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Financial Engines by 6.3% during the 3rd quarter. Bamco Inc. NY now owns 4,581,002 shares of the asset manager’s stock worth $159,190,000 after purchasing an additional 269,500 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Financial Engines by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,235,665 shares of the asset manager’s stock worth $112,439,000 after purchasing an additional 313,400 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC boosted its position in shares of Financial Engines by 5.1% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 2,365,510 shares of the asset manager’s stock worth $82,201,000 after purchasing an additional 115,467 shares in the last quarter.
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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