Pembroke Management LTD Decreases Holdings in Financial Engines, Inc. (FNGN)
Pembroke Management LTD cut its stake in Financial Engines, Inc. (NASDAQ:FNGN) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 416,600 shares of the asset manager’s stock after selling 1,900 shares during the quarter. Pembroke Management LTD owned about 0.66% of Financial Engines worth $14,477,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of FNGN. Janus Henderson Group PLC bought a new position in shares of Financial Engines in the 2nd quarter worth about $106,955,000. State Street Corp increased its stake in shares of Financial Engines by 8.6% in the 2nd quarter. State Street Corp now owns 1,441,265 shares of the asset manager’s stock worth $52,751,000 after acquiring an additional 114,580 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Financial Engines by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 128,617 shares of the asset manager’s stock worth $5,601,000 after acquiring an additional 31,791 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Financial Engines by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,221,858 shares of the asset manager’s stock worth $191,120,000 after acquiring an additional 261,539 shares in the last quarter. Finally, Scout Investments Inc. increased its stake in shares of Financial Engines by 32.6% in the 2nd quarter. Scout Investments Inc. now owns 49,600 shares of the asset manager’s stock worth $1,815,000 after acquiring an additional 12,200 shares in the last quarter.
Financial Engines, Inc. (NASDAQ FNGN) traded up $0.30 during trading hours on Wednesday, reaching $27.65. 376,100 shares of the company’s stock were exchanged, compared to its average volume of 378,559. The company has a market cap of $1,731.73, a price-to-earnings ratio of 28.79, a P/E/G ratio of 1.86 and a beta of 2.25. Financial Engines, Inc. has a 1-year low of $24.45 and a 1-year high of $45.75.
Financial Engines (NASDAQ:FNGN) last released its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $122.20 million during the quarter, compared to analyst estimates of $124.11 million. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. Financial Engines’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. analysts predict that Financial Engines, Inc. will post 1.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.28 dividend on an annualized basis and a yield of 1.01%. Financial Engines’s dividend payout ratio is currently 36.36%.
Financial Engines announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to buyback $60.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
In other Financial Engines news, insider Jeffrey C. Grace sold 7,783 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $36.83, for a total transaction of $286,647.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey C. Grace sold 8,689 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $35.00, for a total transaction of $304,115.00. Following the sale, the insider now owns 11,923 shares of the company’s stock, valued at $417,305. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,634 shares of company stock valued at $1,464,833. 9.27% of the stock is owned by company insiders.
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Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Financial Engines from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, October 10th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Financial Engines in a research note on Friday, November 3rd. William Blair lowered shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Barclays PLC assumed coverage on shares of Financial Engines in a research note on Friday, September 8th. They issued an “overweight” rating and a $38.00 price target for the company. Finally, Northland Securities reiterated a “buy” rating on shares of Financial Engines in a research note on Friday, November 3rd. Two 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. The stock currently has an average rating of “Hold” and an average target price of $38.50.
Financial Engines 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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