Zacks Investment Research cut shares of Financial Engines Inc (NASDAQ:FNGN) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “Financial Engines, Inc. is an independent investment advisor that provides personalized retirement plans for saving, investing, and retirement income. Financial Engines offers both online advice and professional management to meet the needs of different investors. Its services include Professional Management, a discretionary managed account service designed for plan participants who want personalized and professional portfolio management services, investment advice, and retirement help from an independent investment advisor; Online Advice, a nondiscretionary Internet-based service that offers personalized advice to plan participants who wish to take an active role in personally managing their retirement portfolios; and Retirement Evaluation, a retirement readiness assessment provided to plan participants upon plan rollout. Financial Engines, Inc. is headquartered in Palo Alto, California. “
A number of other research firms have also recently weighed in on FNGN. TheStreet upgraded shares of Financial Engines from a c+ rating to a b- rating in a research report on Thursday, April 27th. William Blair restated an outperform rating on shares of Financial Engines in a report on Monday, February 13th. Finally, Jefferies Group LLC restated a buy rating and issued a $47.00 price target on shares of Financial Engines in a report on Tuesday, March 21st.
Shares of Financial Engines (NASDAQ:FNGN) opened at 39.80 on Friday. Financial Engines has a 52-week low of $23.56 and a 52-week high of $45.75. The stock has a 50 day moving average of $41.29 and a 200 day moving average of $38.42. The stock has a market capitalization of $2.50 billion, a PE ratio of 67.69 and a beta of 1.92.
Financial Engines (NASDAQ:FNGN) last posted its quarterly earnings data on Thursday, May 4th. The asset manager reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. Financial Engines had a net margin of 6.74% and a return on equity of 7.03%. The business had revenue of $114.10 million for the quarter, compared to analysts’ expectations of $115.78 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. The business’s revenue was up 23.9% compared to the same quarter last year. Analysts forecast that Financial Engines will post $1.36 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Wednesday, June 14th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Monday, June 12th. Financial Engines’s payout ratio is presently 63.64%.
In other news, EVP Lewis Antone, Jr. sold 788 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $41.00, for a total value of $32,308.00. Following the transaction, the executive vice president now directly owns 4,294 shares in the company, valued at $176,054. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey C. Grace sold 2,874 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $39.80, for a total transaction of $114,385.20. Following the completion of the transaction, the insider now owns 16,152 shares in the company, valued at $642,849.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,350,627 shares of company stock worth $190,496,220. Company insiders own 15.97% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Group LTD boosted its position in Financial Engines by 9.8% in the third quarter. BlackRock Group LTD now owns 77,397 shares of the asset manager’s stock worth $2,300,000 after buying an additional 6,912 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Financial Engines by 36.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 318,457 shares of the asset manager’s stock worth $13,868,000 after buying an additional 85,289 shares during the last quarter. BlackRock Investment Management LLC boosted its position in Financial Engines by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 224,973 shares of the asset manager’s stock worth $6,684,000 after buying an additional 1,824 shares during the last quarter. Comerica Bank boosted its position in Financial Engines by 5.7% in the fourth quarter. Comerica Bank now owns 56,892 shares of the asset manager’s stock worth $2,068,000 after buying an additional 3,054 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Financial Engines by 7.3% in the third quarter. UBS Asset Management Americas Inc. now owns 29,399 shares of the asset manager’s stock worth $873,000 after buying an additional 2,000 shares during the last quarter.
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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