Verition Fund Management LLC boosted its stake in E-Trade (NASDAQ:ETFC) by 46.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,289 shares of the financial services provider’s stock after purchasing an additional 11,207 shares during the period. Verition Fund Management LLC’s holdings in E-Trade were worth $1,749,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of E-Trade in the fourth quarter valued at about $11,504,000. LPL Financial LLC raised its holdings in shares of E-Trade by 3.6% in the fourth quarter. LPL Financial LLC now owns 51,038 shares of the financial services provider’s stock valued at $2,530,000 after buying an additional 1,790 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of E-Trade by 16.9% during the fourth quarter. Flinton Capital Management LLC now owns 146,412 shares of the financial services provider’s stock worth $7,257,000 after acquiring an additional 21,196 shares during the period. Elkfork Partners LLC acquired a new position in shares of E-Trade during the fourth quarter worth about $5,702,000. Finally, Paloma Partners Management Co increased its stake in shares of E-Trade by 304.4% during the fourth quarter. Paloma Partners Management Co now owns 33,221 shares of the financial services provider’s stock worth $1,647,000 after acquiring an additional 49,476 shares during the period. Hedge funds and other institutional investors own 93.20% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Deutsche Bank boosted their price target on shares of E-Trade from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of E-Trade from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday. ValuEngine raised shares of E-Trade from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Sandler O’Neill reissued a “hold” rating and set a $58.00 price objective on shares of E-Trade in a research note on Thursday, March 15th. Finally, JMP Securities upped their price objective on shares of E-Trade from $58.00 to $60.00 and gave the company a “market outperform” rating in a research note on Thursday, March 29th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. E-Trade currently has an average rating of “Buy” and an average target price of $57.50.
ETFC stock traded down $1.60 during mid-day trading on Friday, hitting $55.24. 1,993,051 shares of the company were exchanged, compared to its average volume of 2,759,311. The firm has a market cap of $15,070.91, a P/E ratio of 25.22, a P/E/G ratio of 0.76 and a beta of 1.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.27 and a quick ratio of 0.27. E-Trade has a twelve month low of $33.06 and a twelve month high of $58.49.
E-Trade (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.13). E-Trade had a return on equity of 10.07% and a net margin of 25.95%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $629.03 million. During the same period in the prior year, the business earned $0.46 earnings per share. E-Trade’s revenue was up 25.1% on a year-over-year basis. sell-side analysts expect that E-Trade will post 3.27 EPS for the current year.
In other news, insider Brent Simonich sold 7,680 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $53.00, for a total value of $407,040.00. Following the transaction, the insider now directly owns 26,240 shares in the company, valued at approximately $1,390,720. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Rodger A. Lawson sold 3,853 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $51.95, for a total transaction of $200,163.35. Following the transaction, the chairman now directly owns 96,966 shares in the company, valued at approximately $5,037,383.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,579 shares of company stock worth $12,040,724. Insiders own 0.17% of the company’s stock.
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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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