Financial Engines, Inc. (NASDAQ:FNGN)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Monday, November 6th. They currently have a $38.00 target price on the asset manager’s stock. DA Davidson’s target price would indicate a potential upside of 40.74% from the company’s previous close.
Several other equities analysts also recently commented on the stock. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Financial Engines in a report on Friday, November 3rd. William Blair downgraded shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of Financial Engines from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Wednesday, July 12th. Barclays PLC assumed coverage on shares of Financial Engines in a research note on Friday, September 8th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Sidoti assumed coverage on shares of Financial Engines in a research note on Monday, July 10th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $38.50.
Financial Engines (NASDAQ FNGN) opened at $27.00 on Monday. The firm has a market cap of $1,710.00, a P/E ratio of 28.74, a PEG ratio of 1.76 and a beta of 2.24. Financial Engines has a 1-year low of $24.45 and a 1-year high of $45.75.
Financial Engines declared that its Board of Directors has initiated a share repurchase 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. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, insider Jeffrey C. Grace sold 6,180 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $37.00, for a total transaction of $228,660.00. Following the completion of the sale, the insider now owns 9,414 shares of the company’s stock, valued at approximately $348,318. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Jerome Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $32.05, for a total transaction of $64,100.00. Following the sale, the executive vice president now directly owns 41,020 shares of the company’s stock, 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 valued at $1,464,833. 9.27% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. grew its position in Financial Engines by 58.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 31,195 shares of the asset manager’s stock valued at $1,359,000 after purchasing an additional 11,476 shares during the period. Janus Henderson Group PLC acquired a new stake in Financial Engines in the 2nd quarter valued at $106,955,000. State Street Corp grew its position in Financial Engines by 8.6% in the 2nd quarter. State Street Corp now owns 1,441,265 shares of the asset manager’s stock valued at $52,751,000 after purchasing an additional 114,580 shares during the period. Goldman Sachs Group Inc. grew its position in Financial Engines by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 128,617 shares of the asset manager’s stock valued at $5,601,000 after purchasing an additional 31,791 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Financial Engines by 5.3% during the 2nd 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.
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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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