Financial Engines (NASDAQ:FNGN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday. The firm currently has a $34.00 price objective on the asset manager’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.33% from the stock’s previous close.
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 analysts have also recently weighed in on the company. Raymond James Financial reaffirmed an “underperform” rating on shares of Financial Engines in a report on Friday, November 3rd. William Blair cut Financial Engines from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. BidaskClub cut Financial Engines from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. Northland Securities reaffirmed a “buy” rating on shares of Financial Engines in a report on Friday, November 3rd. Finally, Barclays lowered their price target on Financial Engines from $38.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.75.
Financial Engines (NASDAQ:FNGN) last released its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. The firm had revenue of $122.20 million for the quarter, compared to analysts’ expectations of $124.11 million. During the same quarter last year, the firm posted $0.31 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. equities analysts forecast that Financial Engines will post 1.04 earnings per share for the current year.
Financial Engines declared that its Board of Directors has authorized a share buyback 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 repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In other news, Director Blake R. Grossman acquired 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average cost of $28.71 per share, with a total value of $516,780.00. Following the acquisition, the director now owns 43,726 shares in the company, valued at approximately $1,255,373.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lawrence M. Raffone acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were purchased at an average cost of $28.54 per share, for a total transaction of $428,100.00. Following the completion of the acquisition, the chief executive officer now owns 66,540 shares in the company, valued at approximately $1,899,051.60. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 15,431 shares of company stock worth $567,364. 9.27% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Financial Engines by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock worth $113,000 after acquiring an additional 464 shares during the last quarter. Riverhead Capital Management LLC grew its position in Financial Engines by 82.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock worth $167,000 after acquiring an additional 2,061 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Financial Engines by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock worth $188,000 after acquiring an additional 520 shares during the last quarter. Quantbot Technologies LP bought a new position in Financial Engines during the 3rd quarter worth approximately $206,000. Finally, Shelton Capital Management bought a new position in Financial Engines during the 2nd quarter worth approximately $208,000.
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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