Financial Engines Inc (NASDAQ:FNGN) CEO Lawrence M. Raffone purchased 15,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was acquired at an average cost of $28.54 per share, with a total value of $428,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 66,540 shares of the company’s stock, valued at $1,899,051.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Financial Engines Inc (NASDAQ FNGN) traded up $0.60 during midday trading on Tuesday, hitting $30.90. The company had a trading volume of 417,025 shares, compared to its average volume of 379,100. 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 $1,918.52, a P/E ratio of 40.13, a PEG ratio of 1.95 and a beta of 2.15.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $124.11 million. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts anticipate that Financial Engines Inc will post 1.03 earnings per share for the current fiscal year.
Financial Engines announced that its Board of Directors has authorized a stock buyback program on Thursday, November 2nd that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, December 13th. Financial Engines’s dividend payout ratio is presently 36.36%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System lifted its holdings in shares of Financial Engines by 4.0% during the third quarter. California Public Employees Retirement System now owns 60,337 shares of the asset manager’s stock worth $2,097,000 after purchasing an additional 2,337 shares during the period. Bamco Inc. NY lifted its holdings in shares of Financial Engines by 6.3% during the third quarter. Bamco Inc. NY now owns 4,581,002 shares of the asset manager’s stock worth $159,190,000 after purchasing an additional 269,500 shares during the period. Highbridge Capital Management LLC lifted its holdings in shares of Financial Engines by 208.6% during the third quarter. Highbridge Capital Management LLC now owns 25,772 shares of the asset manager’s stock worth $895,000 after purchasing an additional 17,421 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Financial Engines by 10.7% during the third quarter. Janus Henderson Group PLC now owns 3,235,665 shares of the asset manager’s stock worth $112,439,000 after purchasing an additional 313,400 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Financial Engines during the third quarter worth $1,860,000.
Several research firms have recently weighed in on FNGN. Barclays began coverage on Financial Engines in a report on Friday, September 8th. They issued an “overweight” rating and a $38.00 price objective for the company. Zacks Investment Research raised Financial Engines from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, October 10th. William Blair downgraded Financial Engines from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Raymond James Financial reissued an “underperform” rating on shares of Financial Engines in a report on Friday, November 3rd. Finally, Northland Securities reissued a “buy” rating on shares of Financial Engines in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.50.
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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.
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