Castleark Management LLC grew its stake in shares of Financial Engines, Inc. (NASDAQ:FNGN) by 42.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,910 shares of the asset manager’s stock after acquiring an additional 109,942 shares during the period. Castleark Management LLC owned 0.59% of Financial Engines worth $13,575,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Financial Engines by 163,234.9% during the first quarter. BlackRock Inc. now owns 7,137,735 shares of the asset manager’s stock worth $310,848,000 after acquiring an additional 7,133,365 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Financial Engines by 0.7% during the second quarter. Baillie Gifford & Co. now owns 5,599,838 shares of the asset manager’s stock worth $204,954,000 after acquiring an additional 40,874 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Financial Engines by 5.3% during the second quarter. Vanguard Group Inc. now owns 5,221,858 shares of the asset manager’s stock worth $191,120,000 after acquiring an additional 261,539 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Financial Engines during the second quarter worth $106,955,000. Finally, Clearbridge Investments LLC lifted its position in shares of Financial Engines by 7.2% during the first quarter. Clearbridge Investments LLC now owns 1,867,304 shares of the asset manager’s stock worth $81,321,000 after acquiring an additional 125,382 shares in the last quarter.
In related news, EVP Michael Jerome Campbell sold 2,000 shares of Financial Engines stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $37.55, for a total transaction of $75,100.00. Following the transaction, the executive vice president now owns 41,020 shares in the company, valued at approximately $1,540,301. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gina M. Cruse sold 3,655 shares of Financial Engines stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $36.30, for a total transaction of $132,676.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,136,804 shares of company stock worth $136,793,359 in the last quarter. Corporate insiders own 15.97% of the company’s stock.
FNGN has been the topic of several recent research reports. Zacks Investment Research upgraded Financial Engines from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Wednesday, July 12th. Sidoti initiated coverage on Financial Engines in a research report on Monday, July 10th. They set a “buy” rating on the stock. DA Davidson initiated coverage on Financial Engines in a research report on Wednesday, June 21st. They set a “buy” rating and a $44.00 target price on the stock. Barclays PLC initiated coverage on Financial Engines in a research report on Friday, September 8th. They set an “overweight” rating and a $38.00 target price on the stock. Finally, BidaskClub downgraded Financial Engines from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 1st. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.50.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings results on Tuesday, August 8th. The asset manager reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). The business had revenue of $118.47 million for the quarter, compared to analysts’ expectations of $119.94 million. Financial Engines had a return on equity of 7.31% and a net margin of 8.98%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, September 19th. Financial Engines’s dividend payout ratio is presently 43.75%.
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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.
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