Chicago Equity Partners LLC Raises Position in E*TRADE Financial Corporation (ETFC)

Chicago Equity Partners LLC raised its holdings in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 88.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,720 shares of the financial services provider’s stock after buying an additional 26,620 shares during the period. Chicago Equity Partners LLC’s holdings in E*TRADE Financial Corporation were worth $2,474,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New England Research & Management Inc. bought a new stake in E*TRADE Financial Corporation during the third quarter worth approximately $379,000. Aviva PLC boosted its stake in E*TRADE Financial Corporation by 6.1% in the 2nd quarter. Aviva PLC now owns 179,995 shares of the financial services provider’s stock worth $6,849,000 after purchasing an additional 10,334 shares during the period. Artemis Investment Management LLP acquired a new position in E*TRADE Financial Corporation in the 2nd quarter worth approximately $3,424,000. Burney Co. boosted its stake in E*TRADE Financial Corporation by 3.7% in the 2nd quarter. Burney Co. now owns 71,205 shares of the financial services provider’s stock worth $2,683,000 after purchasing an additional 2,563 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in E*TRADE Financial Corporation by 19.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,032 shares of the financial services provider’s stock worth $2,587,000 after purchasing an additional 11,170 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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ETFC has been the subject of a number of recent analyst reports. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $50.00 price objective on shares of E*TRADE Financial Corporation in a research note on Monday, September 18th. Instinet reaffirmed a “buy” rating and issued a $47.00 price objective (up previously from $44.00) on shares of E*TRADE Financial Corporation in a research note on Saturday, July 22nd. Deutsche Bank AG raised their price objective on shares of E*TRADE Financial Corporation from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. 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. Finally, Bank of America Corporation raised shares of E*TRADE Financial Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $49.00 in a research note on Monday, October 9th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $46.79.

In other news, insider Michael John Curcio sold 33,474 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $40.38, for a total transaction of $1,351,680.12. Following the transaction, the insider now owns 267,151 shares in the company, valued at approximately $10,787,557.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Karl A. Roessner sold 14,898 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $39.41, for a total transaction of $587,130.18. Following the transaction, the chief executive officer now owns 232,702 shares in the company, valued at approximately $9,170,785.82. The disclosure for this sale can be found here. Insiders have sold a total of 66,927 shares of company stock worth $2,679,327 in the last 90 days. 0.17% of the stock is owned by insiders.

E*TRADE Financial Corporation (NASDAQ:ETFC) opened at $42.92 on Friday. The firm has a market cap of $11,573.81, a price-to-earnings ratio of 21.68, a PEG ratio of 1.52 and a beta of 1.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. E*TRADE Financial Corporation has a twelve month low of $31.33 and a twelve month high of $45.70.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $599.00 million for the quarter, compared to the consensus estimate of $598.96 million. E*TRADE Financial Corporation had a net margin of 27.35% and a return on equity of 9.34%. E*TRADE Financial Corporation’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. sell-side analysts forecast that E*TRADE Financial Corporation will post 2.26 earnings per share for the current fiscal year.

E*TRADE Financial Corporation declared that its Board of Directors has approved a stock repurchase program on Thursday, July 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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

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