Financial Engines, Inc. (FNGN) Trading Down 24.4%

Financial Engines, Inc. (NASDAQ:FNGN) shares traded down 24.4% during mid-day trading on Friday . The stock traded as low as $24.45 and last traded at $26.60. 4,296,683 shares were traded during mid-day trading, an increase of 1,747% from the average session volume of 232,602 shares. The stock had previously closed at $35.20.

Several research analysts have recently issued reports on the company. Northland Securities restated a “buy” rating on shares of Financial Engines in a research report on Friday. Zacks Investment Research lowered Financial Engines from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group AG (USA) lowered Financial Engines to an “underperform” rating in a research report on Friday. Sidoti assumed coverage on Financial Engines in a research report on Monday, July 10th. They issued a “buy” rating on the stock. Finally, Barclays PLC assumed coverage on Financial Engines in a research report on Friday, September 8th. They issued an “overweight” rating and a $38.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.00.

The company has a market cap of $2.22 billion, a price-to-earnings ratio of 36.90, a price-to-earnings-growth ratio of 2.37 and a beta of 2.25.

Financial Engines (NASDAQ:FNGN) last posted its earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $122.20 million for the quarter, compared to analyst estimates of $124.11 million. Financial Engines had a return on equity of 7.74% and a net margin of 10.56%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. equities analysts forecast that Financial Engines, Inc. will post 1.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, December 14th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 13th. This represents a $0.28 annualized dividend and a yield of 1.05%. Financial Engines’s dividend payout ratio is presently 36.36%.

Financial Engines declared that its board has authorized a stock buyback program on Thursday, November 2nd that allows the company to buyback $60.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, 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 value of $135,806,680.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey C. Grace sold 7,718 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $37.63, for a total value of $290,428.34. Following the completion of the sale, the insider now owns 4,140 shares in the company, valued at $155,788.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,159,749 shares of company stock worth $137,635,462. Corporate insiders own 9.27% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Financial Engines by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 464 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Financial Engines by 82.4% in the second quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock valued at $167,000 after purchasing an additional 2,061 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Financial Engines by 11.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock valued at $188,000 after purchasing an additional 520 shares in the last quarter. Shelton Capital Management bought a new stake in shares of Financial Engines in the second quarter valued at about $208,000. Finally, Wrapmanager Inc. lifted its holdings in shares of Financial Engines by 24.1% in the second quarter. Wrapmanager Inc. now owns 6,435 shares of the asset manager’s stock valued at $236,000 after purchasing an additional 1,251 shares in the last quarter.

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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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