Financial Engines, Inc. (FNGN) Shares Sold by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. reduced its position in Financial Engines, Inc. (NASDAQ:FNGN) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,164 shares of the asset manager’s stock after selling 1,055 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Financial Engines were worth $994,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FNGN. Strs Ohio grew its holdings in Financial Engines by 109.1% during the 1st quarter. Strs Ohio now owns 2,300 shares of the asset manager’s stock valued at $100,000 after buying an additional 1,200 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Financial Engines by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after buying an additional 464 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Financial Engines during the 1st quarter valued at $201,000. Blueport Capital L.P. grew its holdings in Financial Engines by 7.5% during the 1st quarter. Blueport Capital L.P. now owns 5,381 shares of the asset manager’s stock valued at $234,000 after buying an additional 375 shares during the last quarter. Finally, Wrapmanager Inc. grew its holdings in Financial Engines by 24.1% during the 2nd quarter. Wrapmanager Inc. now owns 6,435 shares of the asset manager’s stock valued at $236,000 after buying an additional 1,251 shares during the last quarter.
FNGN has been the topic of a number of analyst reports. DA Davidson initiated coverage on Financial Engines in a report on Wednesday, June 21st. They set a “buy” rating and a $44.00 target price on the stock. BidaskClub cut Financial Engines from a “sell” rating to a “strong sell” rating in a report on Saturday, July 1st. Sidoti initiated coverage on Financial Engines in a report on Monday, July 10th. They set a “buy” rating on the stock. Zacks Investment Research upgraded Financial Engines from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Wednesday, July 12th. Finally, Barclays PLC initiated coverage on Financial Engines in a report on Friday. They set an “overweight” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $42.75.
In other Financial Engines news, EVP Christopher L. Jones sold 5,120 shares of Financial Engines stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $38.45, for a total transaction of $196,864.00. Following the transaction, the executive vice president now directly owns 60,089 shares in the company, valued at approximately $2,310,422.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael E. Martin sold 4,109,128 shares of Financial Engines stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $33.05, for a total transaction of $135,806,680.40. The disclosure for this sale can be found here. Insiders sold 4,127,311 shares of company stock worth $136,483,279 in the last ninety days. 15.97% of the stock is owned by corporate insiders.
Shares of Financial Engines, Inc. (NASDAQ:FNGN) opened at 31.40 on Monday. The firm has a market cap of $1.98 billion, a PE ratio of 48.31 and a beta of 2.22. The firm’s 50-day moving average price is $34.88 and its 200-day moving average price is $38.81. Financial Engines, Inc. has a one year low of $25.00 and a one year high of $45.75.
Financial Engines (NASDAQ:FNGN) last posted its quarterly earnings results on Tuesday, August 8th. The asset manager reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $118.47 million during the quarter, compared to the consensus estimate of $119.94 million. Financial Engines had a net margin of 8.98% and a return on equity of 7.31%. Financial Engines’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. Equities research analysts expect that Financial Engines, Inc. will post $1.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.89%. Financial Engines’s dividend payout ratio is currently 43.75%.
Financial Engines Company Profile
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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