Financial Engines, Inc. (FNGN) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Financial Engines, Inc. (NASDAQ:FNGN) from a hold rating to a buy rating in a report issued on Thursday morning. They currently have $39.00 price objective on the asset manager’s stock.

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. “

FNGN has been the subject of a number of other reports. Sidoti initiated coverage on Financial Engines in a research note on Monday, July 10th. They set a buy rating for the company. Barclays PLC initiated coverage on Financial Engines in a research note on Friday, September 8th. They set an overweight rating and a $38.00 price target for the company. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $38.50.

Financial Engines (FNGN) traded up $1.27 during trading on Thursday, hitting $27.88. The company’s stock had a trading volume of 529,760 shares, compared to its average volume of 439,941. The firm has a market capitalization of $1,684.24, a P/E ratio of 28.00, a P/E/G ratio of 1.80 and a beta of 2.25.

Financial Engines (NASDAQ:FNGN) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $124.11 million. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. sell-side analysts predict that Financial Engines will post 1.04 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.00%. Financial Engines’s dividend payout ratio (DPR) is presently 36.36%.

Financial Engines declared that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

In other Financial Engines news, EVP Michael Jerome Campbell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $32.05, for a total value of $64,100.00. Following the completion of the transaction, the executive vice president now directly owns 41,020 shares in the company, valued at approximately $1,314,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Martin sold 4,109,128 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $33.05, for a total value of $135,806,680.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,152,031 shares of company stock valued at $137,345,033. 9.27% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. UBS Asset Management Americas Inc. boosted its stake in Financial Engines by 58.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 31,195 shares of the asset manager’s stock worth $1,359,000 after purchasing an additional 11,476 shares during the period. Goldman Sachs Group Inc. boosted its stake in 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 purchasing an additional 31,791 shares during the period. Janus Henderson Group PLC bought a new position in Financial Engines in the 2nd quarter worth approximately $106,955,000. Scout Investments Inc. boosted its stake in 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 purchasing an additional 12,200 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 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 purchasing an additional 261,539 shares during the period.

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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