Brandywine Global Investment Management LLC increased its stake in E*TRADE Financial Corp (NASDAQ:ETFC) by 344.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,048,004 shares of the financial services provider’s stock after buying an additional 812,405 shares during the quarter. Brandywine Global Investment Management LLC owned 0.41% of E*TRADE Financial worth $45,987,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in shares of E*TRADE Financial by 93.0% in the 4th quarter. IFP Advisors Inc now owns 965 shares of the financial services provider’s stock worth $42,000 after buying an additional 465 shares during the last quarter. FNY Investment Advisers LLC raised its stake in E*TRADE Financial by 100.0% in the 4th quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 500 shares during the period. Legacy Financial Advisors Inc. raised its stake in E*TRADE Financial by 751.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,047 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 924 shares during the period. Csenge Advisory Group bought a new stake in E*TRADE Financial in the 3rd quarter valued at about $58,000. Finally, CWM LLC raised its stake in E*TRADE Financial by 41.0% in the 4th quarter. CWM LLC now owns 1,500 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 436 shares during the period. 89.81% of the stock is currently owned by institutional investors.
In related news, Director Robert J. Chersi purchased 2,200 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The shares were purchased at an average cost of $46.24 per share, for a total transaction of $101,728.00. Following the completion of the transaction, the director now directly owns 3,253 shares in the company, valued at approximately $150,418.72. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Karl A. Roessner sold 45,724 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $47.35, for a total value of $2,165,031.40. Following the sale, the chief executive officer now owns 175,092 shares in the company, valued at $8,290,606.20. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.
A number of brokerages recently issued reports on ETFC. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Wednesday, January 23rd. BidaskClub cut E*TRADE Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, December 11th. Morgan Stanley set a $62.00 price objective on E*TRADE Financial and gave the company a “buy” rating in a research note on Tuesday, January 29th. ValuEngine cut E*TRADE Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Finally, Credit Suisse Group restated a “buy” rating on shares of E*TRADE Financial in a research note on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. E*TRADE Financial has an average rating of “Buy” and a consensus price target of $61.33.
Shares of ETFC opened at $49.02 on Friday. E*TRADE Financial Corp has a twelve month low of $40.41 and a twelve month high of $66.46. The stock has a market cap of $11.84 billion, a PE ratio of 12.60, a P/E/G ratio of 1.08 and a beta of 1.15. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24.
E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, January 24th. The financial services provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.01. E*TRADE Financial had a return on equity of 17.27% and a net margin of 36.62%. The firm had revenue of $735.00 million for the quarter, compared to analysts’ expectations of $745.69 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts predict that E*TRADE Financial Corp will post 4.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, January 31st. E*TRADE Financial’s dividend payout ratio is presently 14.40%.
About E*TRADE Financial
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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