Financial Engines Inc (NASDAQ:FNGN) – Equities research analysts at DA Davidson lifted their FY2018 earnings per share (EPS) estimates for shares of Financial Engines in a report issued on Thursday. DA Davidson analyst P. Heckmann now forecasts that the asset manager will post earnings per share of $1.41 for the year, up from their prior forecast of $1.17. DA Davidson currently has a “Buy” rating and a $38.00 target price on the stock.
Several other equities research analysts also recently weighed in on FNGN. Zacks Investment Research downgraded Financial Engines from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. William Blair cut Financial Engines from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. Raymond James Financial restated an “underperform” rating on shares of Financial Engines in a research report on Friday, November 3rd. Northland Securities restated a “buy” rating on shares of Financial Engines in a research report on Friday, November 3rd. Finally, Barclays dropped their target price on Financial Engines from $38.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $35.75.
A number of institutional investors have recently modified their holdings of FNGN. ArrowMark Colorado Holdings LLC lifted its stake in Financial Engines by 49.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,614,796 shares of the asset manager’s stock valued at $109,528,000 after buying an additional 1,201,040 shares in the last quarter. BlackRock Inc. lifted its stake in Financial Engines by 4.6% in the 4th quarter. BlackRock Inc. now owns 7,864,859 shares of the asset manager’s stock valued at $238,305,000 after buying an additional 346,489 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Financial Engines by 14.0% in the 4th quarter. Champlain Investment Partners LLC now owns 2,554,025 shares of the asset manager’s stock valued at $77,387,000 after buying an additional 314,390 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Financial Engines by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,235,665 shares of the asset manager’s stock valued at $112,439,000 after buying an additional 313,400 shares in the last quarter. Finally, Rice Hall James & Associates LLC purchased a new position in Financial Engines in the 4th quarter valued at about $8,276,000.
In related news, CEO Lawrence M. Raffone purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were purchased at an average cost of $28.54 per share, with a total value of $428,100.00. Following the purchase, the chief executive officer now owns 66,540 shares of the company’s stock, valued at approximately $1,899,051.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Blake R. Grossman purchased 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was bought at an average cost of $28.71 per share, for a total transaction of $516,780.00. Following the completion of the purchase, the director now directly owns 43,726 shares in the company, valued at approximately $1,255,373.46. The disclosure for this purchase can be found here. 9.27% of the stock is owned by company insiders.
Financial Engines declared that its Board of Directors has authorized a share buyback plan on Thursday, November 2nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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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