Tudor Investment Corp ET AL decreased its stake in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 42.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,514 shares of the financial services provider’s stock after selling 6,371 shares during the period. Tudor Investment Corp ET AL’s holdings in E*TRADE Financial Corporation were worth $297,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of ETFC. Cleararc Capital Inc. raised its position in E*TRADE Financial Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 6,698 shares of the financial services provider’s stock valued at $234,000 after buying an additional 29 shares during the period. Mackenzie Financial Corp raised its position in E*TRADE Financial Corporation by 0.3% in the first quarter. Mackenzie Financial Corp now owns 33,335 shares of the financial services provider’s stock valued at $1,163,000 after buying an additional 88 shares during the period. Advantus Capital Management Inc raised its position in E*TRADE Financial Corporation by 0.4% in the first quarter. Advantus Capital Management Inc now owns 27,512 shares of the financial services provider’s stock valued at $960,000 after buying an additional 101 shares during the period. Arizona State Retirement System raised its position in E*TRADE Financial Corporation by 0.4% in the first quarter. Arizona State Retirement System now owns 68,003 shares of the financial services provider’s stock valued at $2,373,000 after buying an additional 300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in E*TRADE Financial Corporation by 0.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,655 shares of the financial services provider’s stock valued at $4,314,000 after buying an additional 506 shares during the period. Institutional investors own 92.62% of the company’s stock.
Shares of E*TRADE Financial Corporation (ETFC) traded down 1.07% during trading on Wednesday, reaching $40.72. 711,504 shares of the company traded hands. The stock has a market cap of $11.21 billion, a P/E ratio of 19.03 and a beta of 1.48. E*TRADE Financial Corporation has a 12 month low of $24.49 and a 12 month high of $42.19. The stock’s 50 day moving average price is $38.82 and its 200-day moving average price is $36.21.
E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The company had revenue of $577 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts expect that E*TRADE Financial Corporation will post $2.26 EPS for the current fiscal year.
E*TRADE Financial Corporation announced that its board has authorized a share repurchase plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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Several research firms have recently weighed in on ETFC. UBS AG restated a “buy” rating and set a $43.00 price objective on shares of E*TRADE Financial Corporation in a research report on Thursday, May 25th. Jefferies Group LLC restated a “hold” rating on shares of E*TRADE Financial Corporation in a research report on Monday, July 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $43.00 price objective on shares of E*TRADE Financial Corporation in a research note on Friday, July 14th. Rosenblatt Securities began coverage on shares of E*TRADE Financial Corporation in a research note on Thursday, July 13th. They set a “buy” rating and a $43.00 price objective for the company. Finally, BidaskClub lowered shares of E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.94.
In related news, Director James P. Healy acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were bought at an average price of $41.97 per share, for a total transaction of $209,850.00. Following the purchase, the director now directly owns 40,792 shares in the company, valued at approximately $1,712,040.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brent Simonich sold 5,696 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total value of $236,384.00. Following the sale, the insider now owns 31,557 shares in the company, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
About E*TRADE Financial Corporation
E*Trade Financial Corporation is a financial services company. The Company provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.
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