Zacks Investment Research upgraded shares of Financial Engines Inc. (NASDAQ:FNGN) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The brokerage currently has $33.00 price objective on the 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. “
Several other research analysts have also recently weighed in on FNGN. Jefferies Group reiterated a buy rating on shares of Financial Engines in a research note on Wednesday, August 3rd. William Blair reiterated an outperform rating on shares of Financial Engines in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $32.33.
Financial Engines (NASDAQ:FNGN) opened at 29.59 on Wednesday. The company has a 50-day moving average price of $30.47 and a 200-day moving average price of $29.00. The company has a market cap of $1.83 billion, a PE ratio of 61.26 and a beta of 1.91. Financial Engines has a 1-year low of $23.22 and a 1-year high of $40.00.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The business had revenue of $106.20 million for the quarter, compared to analysts’ expectations of $103.16 million. Financial Engines had a net margin of 7.75% and a return on equity of 7.20%. The company’s revenue was up 35.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. On average, analysts expect that Financial Engines will post $1.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, September 16th. Financial Engines’s dividend payout ratio (DPR) is 57.14%.
In related news, EVP Christopher L. Jones sold 10,000 shares of Financial Engines stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $30.66, for a total transaction of $306,600.00. Following the transaction, the executive vice president now owns 81,564 shares in the company, valued at approximately $2,500,752.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lawrence M. Raffone sold 7,683 shares of Financial Engines stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $32.06, for a total transaction of $246,316.98. Following the transaction, the chief executive officer now owns 35,910 shares in the company, valued at approximately $1,151,274.60. The disclosure for this sale can be found here. Corporate insiders own 15.97% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNGN. Mason Street Advisors LLC purchased a new position in Financial Engines during the second quarter worth $267,000. Schwab Charles Investment Management Inc. boosted its position in Financial Engines by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 197,457 shares of the company’s stock worth $5,109,000 after buying an additional 3,576 shares during the period. Legal & General Group Plc boosted its position in Financial Engines by 24.5% in the second quarter. Legal & General Group Plc now owns 13,972 shares of the company’s stock worth $354,000 after buying an additional 2,750 shares during the period. Elk Creek Partners LLC boosted its position in Financial Engines by 5.9% in the second quarter. Elk Creek Partners LLC now owns 506,884 shares of the company’s stock worth $13,113,000 after buying an additional 28,367 shares during the period. Finally, Fiera Capital Corp purchased a new position in Financial Engines during the second quarter worth $9,088,000.
Financial Engines Company Profile
Financial Engines, Inc provides independent, technology-enabled portfolio management services, investment advice and retirement income services to participants in employer-sponsored defined contribution plans, such as 401(k) plans. 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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