Financial Engines (NASDAQ:FNGN) Lowered to “Equal Weight” at Barclays

Financial Engines (NASDAQ:FNGN) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, January 8th, Marketbeat reports. They currently have a $33.00 target price on the asset manager’s stock, up from their previous target price of $30.00. Barclays’ price target indicates a potential upside of 11.49% from the company’s current price.

FNGN has been the topic of several other 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 reiterated 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 assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $39.25.

Financial Engines (NASDAQ FNGN) opened at $29.60 on Monday. Financial Engines has a 1-year low of $24.45 and a 1-year high of $45.75. The company has a market cap of $1,874.20, a PE ratio of 38.44, a price-to-earnings-growth ratio of 1.66 and a beta of 2.15.

Financial Engines (NASDAQ:FNGN) last announced its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The company had revenue of $122.20 million for the quarter, compared to analyst estimates of $124.11 million. During the same period in the previous year, the firm posted $0.31 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. equities analysts anticipate that Financial Engines will post 1.04 EPS for the current year.

Financial Engines declared that its Board of Directors has authorized a share buyback program on Thursday, November 2nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other news, Director Blake R. Grossman purchased 18,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were purchased at an average cost of $28.71 per share, with a total value of $516,780.00. Following the completion of the acquisition, the director now owns 43,726 shares in the company, valued at approximately $1,255,373.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lawrence M. Raffone purchased 15,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was purchased at an average cost of $28.54 per share, for a total transaction of $428,100.00. Following the completion of the acquisition, the chief executive officer now owns 66,540 shares of the company’s stock, valued at approximately $1,899,051.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 17,431 shares of company stock worth $640,924. Insiders own 9.27% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Financial Engines by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after acquiring an additional 464 shares during the last quarter. Riverhead Capital Management LLC grew its position in Financial Engines by 82.4% during the second quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock valued at $167,000 after acquiring an additional 2,061 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Financial Engines by 11.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock valued at $188,000 after acquiring an additional 520 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Financial Engines in the third quarter worth approximately $206,000. Finally, Shelton Capital Management bought a new position in shares of Financial Engines in the second quarter worth approximately $208,000.

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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.

Analyst Recommendations for Financial Engines (NASDAQ:FNGN)

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