Zacks Investment Research upgraded shares of Financial Engines, Inc. (NASDAQ:FNGN) from a hold rating to a buy rating in a research note issued to investors on Wednesday, July 12th. They currently have $42.00 price objective on the asset manager’s stock.
According to Zacks, “Financial Engines, Inc. is an independent investment advisor that provides personalized retirement plans for saving, investing, and retirement income. Financial Engines offers both online advice and professional management to meet the needs of different investors. Its services include Professional Management, a discretionary managed account service designed for plan participants who want personalized and professional portfolio management services, investment advice, and retirement help from an independent investment advisor; Online Advice, a nondiscretionary Internet-based service that offers personalized advice to plan participants who wish to take an active role in personally managing their retirement portfolios; and Retirement Evaluation, a retirement readiness assessment provided to plan participants upon plan rollout. Financial Engines, Inc. is headquartered in Palo Alto, California. “
FNGN has been the topic of several other reports. Sidoti assumed coverage on Financial Engines in a research note on Monday, July 10th. They set a buy rating on the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $47.00 target price on shares of Financial Engines in a research report on Tuesday, March 21st. TheStreet raised Financial Engines from a c+ rating to a b- rating in a research report on Thursday, April 27th. BidaskClub lowered Financial Engines from a sell rating to a strong sell rating in a research report on Saturday, July 1st. Finally, DA Davidson assumed coverage on Financial Engines in a research report on Wednesday, June 21st. They issued a buy rating and a $44.00 target price on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $44.33.
Shares of Financial Engines (FNGN) traded down 0.78% during trading on Wednesday, hitting $38.25. 233,827 shares of the stock were exchanged. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 65.05 and a beta of 2.22. Financial Engines has a 12-month low of $25.00 and a 12-month high of $45.75. The firm has a 50 day moving average of $37.60 and a 200-day moving average of $39.70.
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In other news, insider Jeffrey C. Grace sold 7,718 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $37.63, for a total transaction of $290,428.34. Following the transaction, the insider now directly owns 4,140 shares of the company’s stock, valued at $155,788.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey C. Grace sold 2,874 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $39.80, for a total value of $114,385.20. Following the transaction, the insider now directly owns 16,152 shares of the company’s stock, valued at approximately $642,849.60. The disclosure for this sale can be found here. Insiders have sold 62,543 shares of company stock worth $2,462,262 over the last three months. Corporate insiders own 15.97% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Scout Investments Inc. boosted its position in shares of Financial Engines by 32.6% in the second quarter. Scout Investments Inc. now owns 49,600 shares of the asset manager’s stock valued at $1,815,000 after buying an additional 12,200 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Financial Engines by 1.2% in the second quarter. Principal Financial Group Inc. now owns 448,080 shares of the asset manager’s stock valued at $16,400,000 after buying an additional 5,386 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Financial Engines by 52.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,475 shares of the asset manager’s stock valued at $457,000 after buying an additional 4,308 shares in the last quarter. Neuberger Berman Group LLC boosted its position 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 buying an additional 80 shares in the last quarter. Finally, Bridge City Capital LLC purchased a new position in shares of Financial Engines during the second quarter valued at $1,212,000.
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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