Financial Engines, Inc. (FNGN) Stock Rating Reaffirmed by DA Davidson
Financial Engines, Inc. (NASDAQ:FNGN)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a research note issued on Monday. They presently have a $38.00 price objective on the asset manager’s stock. DA Davidson’s price objective indicates a potential upside of 36.69% from the company’s current price.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Financial Engines from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Barclays PLC began coverage on shares of Financial Engines in a research note on Friday, September 8th. They set an “overweight” rating and a $38.00 price target on the stock. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Financial Engines in a research note on Friday, November 3rd. William Blair cut shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Finally, Northland Securities reaffirmed a “buy” rating on shares of Financial Engines in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $38.50.
Financial Engines (NASDAQ FNGN) opened at $27.80 on Monday. Financial Engines has a 12 month low of $24.45 and a 12 month high of $45.75. The firm has a market cap of $1,772.89, a price-to-earnings ratio of 29.47, a PEG ratio of 1.90 and a beta of 2.25.
Financial Engines (NASDAQ:FNGN) last posted its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The business had revenue of $122.20 million for the quarter, compared to analysts’ expectations of $124.11 million. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. research analysts predict that Financial Engines will post 1.04 EPS for the current year.
Financial Engines announced that its board has approved a stock repurchase program on Thursday, November 2nd that allows the company to repurchase $60.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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In related news, EVP Michael Jerome Campbell sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $31.75, for a total value of $63,500.00. Following the sale, the executive vice president now directly owns 41,020 shares in the company, valued at approximately $1,302,385. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Martin sold 4,109,128 shares of the business’s stock in a transaction dated 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 a total of 4,151,762 shares of company stock worth $137,335,013 over the last quarter. Insiders own 9.27% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FNGN. Janus Henderson Group PLC purchased a new stake in shares of Financial Engines in the 2nd quarter worth about $106,955,000. Vanguard Group Inc. boosted its position in shares of Financial Engines by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 4,960,319 shares of the asset manager’s stock worth $216,023,000 after buying an additional 504,246 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Financial Engines in the 3rd quarter valued at about $9,131,000. Dimensional Fund Advisors LP lifted its holdings in Financial Engines by 44.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 763,937 shares of the asset manager’s stock valued at $27,960,000 after purchasing an additional 235,185 shares in the last quarter. Finally, State Street Corp lifted its holdings in Financial Engines by 10.7% in the 1st quarter. State Street Corp now owns 1,326,685 shares of the asset manager’s stock valued at $57,777,000 after purchasing an additional 128,770 shares in the last quarter.
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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