Cubist Systematic Strategies LLC cut its holdings in shares of Financial Engines Inc (NASDAQ:FNGN) by 50.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,717 shares of the asset manager’s stock after selling 4,833 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Financial Engines were worth $212,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Financial Engines during the first quarter worth about $134,000. Quadrature Capital Ltd purchased a new position in Financial Engines during the first quarter worth about $210,000. Everence Capital Management Inc. purchased a new position in Financial Engines during the second quarter worth about $212,000. Quantbot Technologies LP lifted its position in Financial Engines by 90.3% during the first quarter. Quantbot Technologies LP now owns 6,222 shares of the asset manager’s stock worth $217,000 after buying an additional 2,953 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in Financial Engines during the second quarter worth about $247,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.
Several equities analysts recently weighed in on the company. BidaskClub downgraded Financial Engines from a “buy” rating to a “hold” rating in a research report on Friday, July 6th. ValuEngine upgraded Financial Engines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $41.50.
Shares of NASDAQ:FNGN opened at $44.95 on Tuesday. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 2.43 and a beta of 1.46. Financial Engines Inc has a 12 month low of $24.45 and a 12 month high of $45.00.
Financial Engines Company Profile
Financial Engines, Inc provides independent technology-enabled financial advisory, discretionary portfolio management, personalized investment advice, financial and retirement income planning, and financial education and guidance services in the United States. It assists individuals to develop a strategy to reach financial goals by offering a set of services, including personalized plans for saving and investing, assessments of retirement income, and the option to meet face-to-face with a financial advisor.
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