TIAA CREF Investment Management LLC Sells 9,817 Shares of Financial Engines, Inc. (NASDAQ:FNGN)
TIAA CREF Investment Management LLC decreased its position in Financial Engines, Inc. (NASDAQ:FNGN) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,014 shares of the asset manager’s stock after selling 9,817 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.23% of Financial Engines worth $6,315,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of FNGN. Glen Harbor Capital Management LLC increased its position in Financial Engines by 0.8% in the first quarter. Glen Harbor Capital Management LLC now owns 22,368 shares of the asset manager’s stock worth $974,000 after buying an additional 176 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Financial Engines during the first quarter worth $206,000. Nationwide Fund Advisors boosted its stake in shares of Financial Engines by 17.8% in the first quarter. Nationwide Fund Advisors now owns 70,457 shares of the asset manager’s stock worth $3,068,000 after buying an additional 10,622 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Financial Engines by 10.4% in the first quarter. State of Alaska Department of Revenue now owns 6,350 shares of the asset manager’s stock worth $276,000 after buying an additional 600 shares during the period. Finally, Hartford Investment Management Co. boosted its stake in shares of Financial Engines by 23.0% in the first quarter. Hartford Investment Management Co. now owns 7,500 shares of the asset manager’s stock worth $327,000 after buying an additional 1,400 shares during the period.
Shares of Financial Engines, Inc. (NASDAQ:FNGN) opened at 37.95 on Friday. Financial Engines, Inc. has a 52 week low of $23.87 and a 52 week high of $45.75. The stock has a market capitalization of $2.39 billion, a PE ratio of 64.54 and a beta of 2.21. The company’s 50 day moving average price is $38.82 and its 200-day moving average price is $39.69.
Financial Engines (NASDAQ:FNGN) last released its earnings results on Thursday, May 4th. The asset manager reported $0.25 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $115.78 million. During the same period in the previous year, the firm posted $0.24 EPS. Financial Engines’s revenue for the quarter was up 23.9% on a year-over-year basis. Equities research analysts predict that Financial Engines, Inc. will post $1.37 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Wednesday, June 14th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.28 annualized dividend and a yield of 0.74%. Financial Engines’s payout ratio is 48.28%.
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A number of brokerages recently weighed in on FNGN. Zacks Investment Research cut Financial Engines from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. TheStreet upgraded Financial Engines from a “c+” rating to a “b-” rating in a research note on Thursday, April 27th. Jefferies Group LLC restated a “buy” rating and set a $47.00 price objective on shares of Financial Engines in a research note on Tuesday, March 21st. DA Davidson began coverage on Financial Engines in a research note on Wednesday, June 21st. They set a “buy” rating and a $44.00 price objective for the company. Finally, BidaskClub cut Financial Engines from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 1st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $44.33.
In other Financial Engines news, CFO Raymond J. Sims sold 24,649 shares of Financial Engines 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 completion of the sale, the chief financial officer now directly owns 26,358 shares of the company’s stock, valued at approximately $1,121,005.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher L. Jones sold 5,120 shares of Financial Engines stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $38.45, for a total value of $196,864.00. Following the sale, the executive vice president now directly owns 60,089 shares of the company’s stock, valued at $2,310,422.05. The disclosure for this sale can be found here. Insiders have sold a total of 128,345 shares of company stock valued at $5,234,368 over the last three months. 15.97% of the stock is currently owned by insiders.
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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