Financial Engines Inc. (FNGN) Stock Rating Upgraded by Zacks Investment Research
Financial Engines Inc. (NASDAQ:FNGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $33.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.75% from the company’s current price.
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 equities research analysts have also issued reports on the stock. William Blair restated an “outperform” rating on shares of Financial Engines in a report on Wednesday, August 3rd. Jefferies Group restated a “buy” rating on shares of Financial Engines in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.33.
Financial Engines (NASDAQ:FNGN) opened at 29.53 on Wednesday. The stock has a 50 day moving average of $30.60 and a 200 day moving average of $29.01. Financial Engines has a 52 week low of $23.22 and a 52 week high of $40.00. The company has a market cap of $1.82 billion, a P/E ratio of 61.14 and a beta of 1.91.
Financial Engines (NASDAQ:FNGN) last released its earnings results on Tuesday, August 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 quarter last year, the business earned $0.23 EPS. On average, analysts expect that Financial Engines will post $1.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, September 16th. 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 firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $29.88, for a total transaction of $298,800.00. Following the transaction, the executive vice president now owns 88,035 shares of the company’s stock, valued at approximately $2,630,485.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heidi Fields sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $31.99, for a total transaction of $159,950.00. Following the transaction, the director now directly owns 11,231 shares in the company, valued at approximately $359,279.69. The disclosure for this sale can be found here. 15.97% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in Financial Engines by 3.5% in the first quarter. Prudential Financial Inc. now owns 124,028 shares of the company’s stock worth $3,898,000 after buying an additional 4,200 shares during the period. California Public Employees Retirement System increased its position in Financial Engines by 14.4% in the second quarter. California Public Employees Retirement System now owns 81,100 shares of the company’s stock worth $2,098,000 after buying an additional 10,200 shares during the period. Cortina Asset Management LLC increased its position in Financial Engines by 4.9% in the second quarter. Cortina Asset Management LLC now owns 219,509 shares of the company’s stock worth $5,679,000 after buying an additional 10,224 shares during the period. Loomis Sayles & Co. L P acquired a new position in Financial Engines during the first quarter worth approximately $15,530,000. Finally, Goldman Sachs Group Inc. increased its position in Financial Engines by 83.8% in the first quarter. Goldman Sachs Group Inc. now owns 112,730 shares of the company’s stock worth $3,543,000 after buying an additional 51,404 shares during the period.
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.
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