Barings LLC Trims Stake in E*TRADE Financial Corp (ETFC)

Barings LLC reduced its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 49.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,554 shares of the financial services provider’s stock after selling 20,400 shares during the period. Barings LLC’s holdings in E*TRADE Financial were worth $1,077,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in shares of E*TRADE Financial by 46.7% during the 2nd quarter. Renaissance Technologies LLC now owns 743,040 shares of the financial services provider’s stock valued at $45,444,000 after acquiring an additional 236,600 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of E*TRADE Financial by 2.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,546,675 shares of the financial services provider’s stock valued at $94,595,000 after acquiring an additional 35,983 shares during the period. CIBC World Markets Inc. grew its position in shares of E*TRADE Financial by 277.8% during the 2nd quarter. CIBC World Markets Inc. now owns 44,465 shares of the financial services provider’s stock valued at $2,719,000 after acquiring an additional 32,694 shares during the period. BlueMountain Capital Management LLC bought a new position in shares of E*TRADE Financial during the 2nd quarter valued at approximately $647,000. Finally, Jupiter Asset Management Ltd. grew its position in shares of E*TRADE Financial by 7.2% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 788,858 shares of the financial services provider’s stock valued at $48,247,000 after acquiring an additional 52,756 shares during the period. 91.15% of the stock is owned by hedge funds and other institutional investors.

Shares of ETFC stock opened at $51.11 on Friday. The company has a market cap of $12.73 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. E*TRADE Financial Corp has a 12 month low of $42.56 and a 12 month high of $66.46.

E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.17. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The company had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $710.62 million. During the same period in the prior year, the company posted $0.49 EPS. E*TRADE Financial’s revenue was up 20.2% compared to the same quarter last year. As a group, research analysts forecast that E*TRADE Financial Corp will post 3.77 EPS for the current year.

E*TRADE Financial announced that its board has initiated a stock buyback program on Thursday, October 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Monday, October 29th. E*TRADE Financial’s dividend payout ratio is presently 25.57%.

A number of research analysts have recently weighed in on the stock. BidaskClub raised shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine cut shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. Wolfe Research upgraded shares of E*TRADE Financial from a “market perform” rating to an “outperform” rating in a research note on Friday. Credit Suisse Group dropped their price target on shares of E*TRADE Financial from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, July 20th. Finally, Jefferies Financial Group upped their price target on shares of E*TRADE Financial from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.00.

E*TRADE Financial Company Profile

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

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