IFM Investors Pty Ltd Purchases 11,985 Shares of E*TRADE Financial Corp (NASDAQ:ETFC)

IFM Investors Pty Ltd lifted its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 70.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,046 shares of the financial services provider’s stock after acquiring an additional 11,985 shares during the quarter. IFM Investors Pty Ltd’s holdings in E*TRADE Financial were worth $1,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. APG Asset Management N.V. grew its stake in shares of E*TRADE Financial by 17.4% in the 2nd quarter. APG Asset Management N.V. now owns 29,000 shares of the financial services provider’s stock worth $1,136,000 after acquiring an additional 4,300 shares in the last quarter. Bank of Nova Scotia grew its position in E*TRADE Financial by 4.0% during the second quarter. Bank of Nova Scotia now owns 1,614,644 shares of the financial services provider’s stock valued at $72,013,000 after buying an additional 62,599 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in E*TRADE Financial during the second quarter valued at about $623,000. Westpac Banking Corp grew its position in E*TRADE Financial by 80.5% during the second quarter. Westpac Banking Corp now owns 28,636 shares of the financial services provider’s stock valued at $1,277,000 after buying an additional 12,768 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in E*TRADE Financial by 89.8% during the second quarter. Envestnet Asset Management Inc. now owns 45,468 shares of the financial services provider’s stock valued at $2,028,000 after buying an additional 21,516 shares during the period. Hedge funds and other institutional investors own 89.87% of the company’s stock.

NASDAQ:ETFC traded up $0.01 on Friday, reaching $43.48. 1,668,700 shares of the company’s stock were exchanged, compared to its average volume of 2,903,094. E*TRADE Financial Corp has a 52 week low of $34.68 and a 52 week high of $54.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a fifty day simple moving average of $40.93 and a 200-day simple moving average of $44.58. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.42 and a beta of 1.21.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. E*TRADE Financial had a net margin of 35.79% and a return on equity of 18.41%. The business had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $742.83 million. During the same period last year, the business earned $1.00 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that E*TRADE Financial Corp will post 4.09 EPS for the current year.

E*TRADE Financial declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 18th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, November 7th. E*TRADE Financial’s payout ratio is currently 14.40%.

In other E*TRADE Financial news, Director Rodger A. Lawson sold 5,109 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $45.18, for a total transaction of $230,824.62. Following the transaction, the director now directly owns 113,739 shares in the company, valued at $5,138,728.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael John Curcio sold 53,584 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $45.18, for a total transaction of $2,420,925.12. Following the transaction, the executive vice president now owns 149,159 shares in the company, valued at $6,739,003.62. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Several research firms recently weighed in on ETFC. Deutsche Bank increased their price target on shares of E*TRADE Financial from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Raymond James increased their price target on shares of E*TRADE Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Co increased their price target on shares of E*TRADE Financial from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley increased their price target on shares of E*TRADE Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, JMP Securities increased their price target on shares of E*TRADE Financial to $63.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.65.

E*TRADE Financial Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.

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Institutional Ownership by Quarter for E*TRADE Financial (NASDAQ:ETFC)

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