Bank of New York Mellon Corp boosted its position in Financial Engines, Inc. (NASDAQ:FNGN) by 4.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 726,176 shares of the asset manager’s stock after acquiring an additional 28,036 shares during the period. Bank of New York Mellon Corp owned 1.15% of Financial Engines worth $25,234,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Capital Management Associates NY bought a new stake in Financial Engines in the 3rd quarter valued at about $382,000. Rhumbline Advisers raised its stake in Financial Engines by 5.9% in the 3rd quarter. Rhumbline Advisers now owns 120,705 shares of the asset manager’s stock valued at $4,194,000 after acquiring an additional 6,718 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Financial Engines by 73.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 23,770 shares of the asset manager’s stock valued at $826,000 after acquiring an additional 10,100 shares during the period. New York State Common Retirement Fund raised its stake in Financial Engines by 2.6% in the 3rd quarter. New York State Common Retirement Fund now owns 114,971 shares of the asset manager’s stock valued at $3,995,000 after acquiring an additional 2,900 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Financial Engines by 77.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 32,507 shares of the asset manager’s stock valued at $1,130,000 after acquiring an additional 14,168 shares during the period.
A number of equities research analysts recently issued reports on the company. TheStreet cut Financial Engines from a “b-” rating to a “c” rating in a research note on Friday, November 24th. ValuEngine cut Financial Engines from a “hold” rating to a “sell” rating in a research note on Saturday, November 25th. DA Davidson restated a “buy” rating and issued a $38.00 price objective on shares of Financial Engines in a research note on Monday, November 6th. Zacks Investment Research cut Financial Engines from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Barclays lowered their price objective on Financial Engines from $38.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, November 6th. 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’s stock. The company has a consensus rating of “Hold” and an average target price of $38.50.
In other Financial Engines news, insider Jeffrey C. Grace sold 8,689 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $35.00, for a total value of $304,115.00. Following the completion of the sale, the insider now owns 11,923 shares of the company’s stock, valued at $417,305. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Jerome Campbell sold 2,000 shares of the company’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 value of $64,100.00. Following the completion of 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. Over the last 90 days, insiders sold 40,634 shares of company stock worth $1,464,833. 9.27% of the stock is owned by company insiders.
Shares of Financial Engines, Inc. (NASDAQ FNGN) opened at $28.65 on Thursday. Financial Engines, Inc. has a 52-week low of $24.45 and a 52-week high of $45.75. The firm has a market capitalization of $1,807.71, a PE ratio of 30.05, a PEG ratio of 1.84 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 for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Financial Engines had a return on equity of 7.60% and a net margin of 10.56%. The firm had revenue of $122.20 million for the quarter, compared to analysts’ expectations of $124.11 million. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. equities analysts expect that Financial Engines, Inc. will post 1.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, December 13th. Financial Engines’s dividend payout ratio (DPR) is 36.36%.
Financial Engines announced that its board has authorized a share repurchase plan on Thursday, November 2nd that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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Financial Engines 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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