Financial Engines, Inc. (NASDAQ:FNGN) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c” rating in a report issued on Friday.
Other research analysts have also recently issued research reports about the stock. DA Davidson restated a “buy” rating and issued a $38.00 target price on shares of Financial Engines in a report on Monday, November 6th. Northland Securities restated a “buy” rating on shares of Financial Engines in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Financial Engines from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, October 10th. William Blair cut shares of Financial Engines from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Finally, Barclays PLC initiated coverage on shares of Financial Engines in a report on Friday, September 8th. They issued an “overweight” rating and a $38.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Financial Engines currently has an average rating of “Hold” and a consensus price target of $38.50.
Financial Engines (FNGN) opened at $27.05 on Friday. Financial Engines has a fifty-two week low of $24.45 and a fifty-two week high of $45.75. The stock has a market cap of $1,709.57, a P/E ratio of 28.42, a PEG ratio of 1.74 and a beta of 2.25.
Financial Engines announced that its board has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, 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 value of $132,676.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael Jerome Campbell sold 2,000 shares of Financial Engines stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $32.05, for a total transaction of $64,100.00. Following the completion of the sale, the executive vice president now owns 41,020 shares in the company, valued at approximately $1,314,691. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,634 shares of company stock worth $1,464,833. 9.27% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its holdings in Financial Engines by 0.7% in the second quarter. Baillie Gifford & Co. now owns 5,599,838 shares of the asset manager’s stock valued at $204,954,000 after acquiring an additional 40,874 shares in the last quarter. 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 valued at $191,120,000 after acquiring an additional 261,539 shares in the last quarter. 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 valued at $159,190,000 after acquiring an additional 269,500 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Financial Engines by 10.7% in the third quarter. Janus Henderson Group PLC now owns 3,235,665 shares of the asset manager’s stock valued at $112,439,000 after acquiring an additional 313,400 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC lifted its position in Financial Engines by 5.1% during the third quarter. Villere ST Denis J & Co. LLC now owns 2,365,510 shares of the asset manager’s stock valued at $82,201,000 after buying an additional 115,467 shares during the period.
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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