Financial Engines, Inc. (FNGN) Given New $30.00 Price Target at Barclays PLC
Financial Engines, Inc. (NASDAQ:FNGN) had its price objective cut by Barclays PLC from $38.00 to $30.00 in a research note published on Monday morning. They currently have an overweight rating on the asset manager’s stock.
Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Financial Engines from a hold rating to a buy rating and set a $39.00 price objective on the stock in a research report on Thursday, November 2nd. DA Davidson reaffirmed a buy rating and issued a $38.00 target price on shares of Financial Engines in a research report on Monday. Northland Securities reaffirmed a buy rating on shares of Financial Engines in a research report on Friday, November 3rd. Sidoti started coverage on shares of Financial Engines in a research report on Monday, July 10th. They issued a buy rating on the stock. Finally, William Blair downgraded shares of Financial Engines from an outperform rating to a market perform rating in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Financial Engines has an average rating of Hold and a consensus price target of $38.50.
Financial Engines (NASDAQ:FNGN) traded up $0.10 during trading on Monday, hitting $27.18. The stock had a trading volume of 282,661 shares, compared to its average volume of 453,756. The stock has a market capitalization of $1,710.00, a PE ratio of 28.74, a PEG ratio of 1.85 and a beta of 2.24. Financial Engines has a 1-year low of $24.45 and a 1-year high of $45.75.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $122.20 million for the quarter, compared to the consensus estimate of $124.11 million. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. equities analysts predict that Financial Engines will post 1.03 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Wednesday, December 13th. Financial Engines’s payout ratio is 36.36%.
Financial Engines declared that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In related news, EVP Michael Jerome Campbell sold 2,000 shares of the company’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 transaction, the executive vice president now owns 41,020 shares in the company, valued at approximately $1,302,385. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey C. Grace sold 6,180 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $37.00, for a total transaction of $228,660.00. Following the completion of the transaction, the insider now owns 9,414 shares in the company, valued at approximately $348,318. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,151,762 shares of company stock worth $137,335,013. 9.27% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of FNGN. UBS Asset Management Americas Inc. lifted its stake in Financial Engines by 58.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 31,195 shares of the asset manager’s stock valued at $1,359,000 after acquiring an additional 11,476 shares during the period. Teachers Advisors LLC lifted its stake in Financial Engines by 2.9% during the 1st quarter. Teachers Advisors LLC now owns 90,538 shares of the asset manager’s stock valued at $3,943,000 after acquiring an additional 2,593 shares during the period. Vanguard Group Inc. lifted its stake in Financial Engines by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 4,960,319 shares of the asset manager’s stock valued at $216,023,000 after acquiring an additional 504,246 shares during the period. Dimensional Fund Advisors LP lifted its stake in Financial Engines by 75.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 528,752 shares of the asset manager’s stock valued at $23,025,000 after acquiring an additional 227,159 shares during the period. Finally, KCG Holdings Inc. bought a new position in Financial Engines during the 1st quarter valued at about $261,000.
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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