Dimensional Fund Advisors LP lifted its position in Financial Engines Inc (NASDAQ:FNGN) by 31.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,006,003 shares of the asset manager’s stock after purchasing an additional 242,066 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Financial Engines were worth $34,957,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in FNGN. Schwab Charles Investment Management Inc. grew its holdings in shares of Financial Engines by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 258,777 shares of the asset manager’s stock valued at $9,472,000 after purchasing an additional 11,249 shares during the period. First Trust Advisors LP grew its holdings in shares of Financial Engines by 367.1% in the second quarter. First Trust Advisors LP now owns 42,447 shares of the asset manager’s stock valued at $1,554,000 after purchasing an additional 33,360 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Financial Engines in the second quarter valued at about $271,000. Victory Capital Management Inc. grew its holdings in shares of Financial Engines by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 464 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in shares of Financial Engines by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 9,673 shares of the asset manager’s stock valued at $354,000 after purchasing an additional 80 shares during the period.
Financial Engines Inc (FNGN) opened at $29.60 on Friday. The firm has a market cap of $1,870.00, a PE ratio of 38.44, a price-to-earnings-growth ratio of 1.63 and a beta of 2.15. Financial Engines Inc has a 12 month low of $24.45 and a 12 month high of $45.75.
Financial Engines declared that its board has approved a stock buyback plan on Thursday, November 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Thursday, December 14th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, December 13th. Financial Engines’s dividend payout ratio (DPR) is presently 36.36%.
In related news, CEO Lawrence M. Raffone bought 15,000 shares of the stock in a transaction on Thursday, December 7th. The stock was bought at an average price of $28.54 per share, with a total value of $428,100.00. Following the completion of the purchase, the chief executive officer now directly owns 66,540 shares in the company, valued at approximately $1,899,051.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake R. Grossman bought 18,000 shares of the stock in a transaction 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 purchase, the director now owns 43,726 shares of the company’s stock, valued at $1,255,373.46. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 25,214 shares of company stock valued at $927,572. 9.27% of the stock is currently owned by insiders.
A number of equities research analysts recently issued reports on FNGN shares. Zacks Investment Research lowered shares of Financial Engines from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 3rd. Barclays lowered shares of Financial Engines from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $30.00 to $33.00 in a report on Monday, January 8th. BidaskClub lowered shares of Financial Engines from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. ValuEngine lowered shares of Financial Engines from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Northland Securities reissued a “buy” rating on shares of Financial Engines in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $39.25.
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About Financial Engines
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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