Great West Life Assurance Co. Can lowered its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 21.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,651 shares of the financial services provider’s stock after selling 49,692 shares during the period. Great West Life Assurance Co. Can owned about 0.07% of E*TRADE Financial worth $9,684,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in E*TRADE Financial by 16.7% during the second quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock worth $1,551,060,000 after buying an additional 3,638,467 shares in the last quarter. FMR LLC boosted its stake in E*TRADE Financial by 10.5% during the second quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock worth $936,560,000 after buying an additional 1,452,296 shares in the last quarter. First Trust Advisors LP boosted its stake in E*TRADE Financial by 23.3% during the third quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock worth $244,087,000 after buying an additional 879,210 shares in the last quarter. Janus Henderson Group PLC boosted its stake in E*TRADE Financial by 18.6% during the second quarter. Janus Henderson Group PLC now owns 2,932,616 shares of the financial services provider’s stock worth $179,359,000 after buying an additional 460,318 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of E*TRADE Financial by 2,043.1% during the second quarter. Voya Investment Management LLC now owns 2,921,063 shares of the financial services provider’s stock valued at $178,653,000 after acquiring an additional 2,784,761 shares during the period. Hedge funds and other institutional investors own 94.52% of the company’s stock.
E*TRADE Financial stock opened at $45.74 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. E*TRADE Financial Corp has a 12-month low of $45.50 and a 12-month high of $66.46. The stock has a market capitalization of $12.05 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09.
E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.17. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. The business had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $710.62 million. During the same period in the previous year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, sell-side analysts predict that E*TRADE Financial Corp will post 3.85 EPS for the current fiscal year.
E*TRADE Financial declared that its board has initiated a share buyback plan on Thursday, October 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Tuesday, October 30th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, October 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.22%. E*TRADE Financial’s dividend payout ratio is 25.57%.
In other E*TRADE Financial news, insider Rodger A. Lawson purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average cost of $51.27 per share, with a total value of $512,700.00. Following the completion of the acquisition, the insider now directly owns 109,191 shares of the company’s stock, valued at approximately $5,598,222.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua Weinreich purchased 5,725 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average cost of $52.33 per share, with a total value of $299,589.25. Following the completion of the acquisition, the director now directly owns 7,318 shares of the company’s stock, valued at $382,950.94. The disclosure for this purchase can be found here. Insiders purchased 32,668 shares of company stock valued at $1,685,354 over the last ninety days. 0.12% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on ETFC shares. BidaskClub raised E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Raymond James cut E*TRADE Financial from a “strong-buy” rating to an “outperform” rating and set a $64.00 price objective for the company. in a report on Tuesday, October 30th. Credit Suisse Group reissued an “outperform” rating on shares of E*TRADE Financial in a report on Thursday, November 15th. Jefferies Financial Group raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Wednesday, September 19th. They noted that the move was a valuation call. Finally, Deutsche Bank cut their price objective on E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 22nd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.12.
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E*TRADE Financial Company Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.
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