Thompson Siegel & Walmsley LLC lifted its stake in E*TRADE Financial Corporation (NASDAQ:ETFC) by 58.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,081,618 shares of the financial services provider’s stock after buying an additional 766,132 shares during the period. Thompson Siegel & Walmsley LLC owned approximately 0.76% of E*TRADE Financial Corporation worth $79,164,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of ETFC. Advisors Asset Management Inc. grew its stake in shares of E*TRADE Financial Corporation by 80.8% in the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,448 shares during the last quarter. Exane Derivatives bought a new stake in E*TRADE Financial Corporation during the 2nd quarter valued at approximately $130,000. Meeder Asset Management Inc. boosted its position in E*TRADE Financial Corporation by 163.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 3,513 shares in the last quarter. Eagle Global Advisors LLC bought a new stake in E*TRADE Financial Corporation during the 2nd quarter valued at approximately $221,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in E*TRADE Financial Corporation during the 2nd quarter valued at approximately $226,000. 92.65% of the stock is currently owned by institutional investors.
In other news, Director James P. Healy purchased 5,000 shares of E*TRADE Financial Corporation stock in a transaction dated Tuesday, July 25th. The stock was bought at an average price of $41.97 per share, with a total value of $209,850.00. Following the completion of the acquisition, the director now owns 40,792 shares in the company, valued at approximately $1,712,040.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total transaction of $236,384.00. Following the transaction, the insider now directly owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,623 shares of company stock valued at $2,915,711. Corporate insiders own 0.17% of the company’s stock.
E*TRADE Financial Corporation (ETFC) opened at 41.06 on Friday. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 19.19 and a beta of 1.46. E*TRADE Financial Corporation has a 52-week low of $27.34 and a 52-week high of $42.19. The company’s 50-day moving average is $40.61 and its 200-day moving average is $37.14.
E*TRADE Financial Corporation (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The firm had revenue of $577.00 million during the quarter, compared to the consensus estimate of $553.31 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis. Equities analysts predict that E*TRADE Financial Corporation will post $2.26 earnings per share for the current year.
E*TRADE Financial Corporation announced that its Board of Directors has approved a stock repurchase program 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
A number of equities analysts recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 target price (up from $40.00) on shares of E*TRADE Financial Corporation in a research note on Tuesday, July 25th. Deutsche Bank AG boosted their price objective on shares of E*TRADE Financial Corporation from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Bank of America Corporation upped their target price on shares of E*TRADE Financial Corporation from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. ValuEngine downgraded shares of E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Finally, Instinet reissued a “buy” rating and issued a $47.00 price objective (up from $44.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $41.61.
E*TRADE Financial Corporation Company Profile
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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