Barclays Lowers Financial Engines (FNGN) to Equal Weight

Barclays cut shares of Financial Engines (NASDAQ:FNGN) from an overweight rating to an equal weight rating in a report issued on Monday morning, MarketBeat.com reports. Barclays currently has $33.00 price objective on the asset manager’s stock, up from their previous price objective of $30.00.

FNGN has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Financial Engines from a hold rating to a strong sell rating in a research report on Wednesday, January 3rd. BidaskClub downgraded shares of Financial Engines from a hold rating to a sell rating in a research report on Saturday, December 16th. ValuEngine downgraded shares of Financial Engines from a hold rating to a sell rating in a research report on Sunday, December 31st. Northland Securities reissued a buy rating on shares of Financial Engines in a research report on Friday, November 3rd. Finally, TheStreet downgraded shares of Financial Engines from a b- rating to a c rating in a research report on Friday, November 24th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $39.25.

Shares of Financial Engines (NASDAQ:FNGN) opened at $29.00 on Monday. Financial Engines has a 1 year low of $24.45 and a 1 year high of $45.75. The firm has a market cap of $1,890.00, a P/E ratio of 37.66, a PEG ratio of 1.75 and a beta of 2.15.

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, hitting analysts’ consensus estimates of $0.36. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The business had revenue of $122.20 million during the quarter, compared to the consensus estimate of $124.11 million. During the same quarter last year, the company earned $0.31 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. research analysts anticipate that Financial Engines will post 1.04 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Thursday, December 14th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, December 13th. Financial Engines’s dividend payout ratio is presently 36.36%.

Financial Engines declared that its board has approved a share repurchase program on Thursday, November 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Financial Engines news, insider Jeffrey C. Grace sold 2,000 shares of Financial Engines stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $37.00, for a total value of $74,000.00. Following the completion of the transaction, the insider now owns 5,234 shares of the company’s stock, valued at $193,658. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey C. Grace sold 7,783 shares of Financial Engines stock in a transaction on Monday, October 16th. The stock was sold at an average price of $36.83, for a total transaction of $286,647.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,214 shares of company stock valued at $927,572. 9.27% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY boosted its holdings 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 worth $159,190,000 after purchasing an additional 269,500 shares during the period. Janus Henderson Group PLC acquired a new position in Financial Engines in the second quarter worth $106,955,000. State Street Corp boosted its holdings in Financial Engines by 8.6% in the second quarter. State Street Corp now owns 1,441,265 shares of the asset manager’s stock worth $52,751,000 after purchasing an additional 114,580 shares during the period. Vanguard Group Inc. boosted its holdings 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 worth $191,120,000 after purchasing an additional 261,539 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Financial Engines in the third quarter worth $9,131,000.

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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.

Analyst Recommendations for Financial Engines (NASDAQ:FNGN)

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