Barclays downgraded shares of Financial Engines (NASDAQ:FNGN) from an overweight rating to an equal weight rating in a report published on Monday, MarketBeat reports. Barclays currently has $33.00 price target on the asset manager’s stock, up from their prior price target of $30.00.
Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Financial Engines from a hold rating to a buy rating and set a $41.00 target price on the stock in a research note on Tuesday, October 10th. BidaskClub upgraded Financial Engines from a sell rating to a hold rating in a research note on Wednesday, December 27th. ValuEngine lowered Financial Engines from a hold rating to a sell rating in a research note on Saturday, November 25th. Raymond James Financial reiterated an underperform rating on shares of Financial Engines in a research note on Friday, November 3rd. Finally, William Blair lowered Financial Engines from an outperform rating to a market perform rating in a research note on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Financial Engines has an average rating of Hold and an average target price of $39.25.
Shares of Financial Engines (NASDAQ FNGN) opened at $28.70 on Monday. The stock has a market capitalization of $1,890.00, a price-to-earnings ratio of 37.27, a P/E/G ratio of 1.75 and a beta of 2.15. Financial Engines has a 52-week low of $24.45 and a 52-week high of $45.75.
The company also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Thursday, December 14th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.98%. Financial Engines’s dividend payout ratio is currently 36.36%.
Financial Engines declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 2nd that permits the company to buyback $60.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, EVP Michael Jerome Campbell sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $36.78, for a total transaction of $73,560.00. Following the transaction, the executive vice president now owns 547 shares in the company, valued at $20,118.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey C. Grace sold 7,783 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $36.83, for a total value of $286,647.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,214 shares of company stock worth $927,572. Insiders own 9.27% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new position in Financial Engines in the second quarter valued at about $106,955,000. Bamco Inc. NY grew its stake in Financial Engines by 6.3% in the third quarter. Bamco Inc. NY now owns 4,581,002 shares of the asset manager’s stock valued at $159,190,000 after purchasing an additional 269,500 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Financial Engines in the third quarter valued at about $9,131,000. Vanguard Group Inc. grew its stake in Financial Engines by 5.3% in the second quarter. Vanguard Group Inc. now owns 5,221,858 shares of the asset manager’s stock valued at $191,120,000 after purchasing an additional 261,539 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Financial Engines by 31.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,006,003 shares of the asset manager’s stock valued at $34,957,000 after purchasing an additional 242,066 shares during the last quarter.
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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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