WESPAC Advisors LLC raised its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 51.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,368 shares of the financial services provider’s stock after acquiring an additional 4,206 shares during the period. WESPAC Advisors LLC’s holdings in E*TRADE Financial were worth $648,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETFC. BlackRock Inc. lifted its stake in E*TRADE Financial by 16.7% in the 2nd quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock valued at $1,551,060,000 after acquiring an additional 3,638,467 shares in the last quarter. Voya Investment Management LLC lifted its stake in E*TRADE Financial by 2,043.1% in the 2nd quarter. Voya Investment Management LLC now owns 2,921,063 shares of the financial services provider’s stock valued at $178,653,000 after acquiring an additional 2,784,761 shares in the last quarter. FMR LLC lifted its stake in E*TRADE Financial by 10.5% in the 2nd quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock valued at $936,560,000 after acquiring an additional 1,452,296 shares in the last quarter. Calamos Advisors LLC bought a new stake in E*TRADE Financial in the 2nd quarter valued at approximately $64,217,000. Finally, First Trust Advisors LP lifted its stake in E*TRADE Financial by 23.3% in the 3rd quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock valued at $244,087,000 after acquiring an additional 879,210 shares in the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.
In other E*TRADE Financial news, insider Brent Simonich purchased 1,943 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were acquired at an average price of $51.50 per share, for a total transaction of $100,064.50. Following the purchase, the insider now owns 26,330 shares in the company, valued at $1,355,995. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodger A. Lawson purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the purchase, the insider now owns 109,191 shares in the company, valued at approximately $5,598,222.57. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 26,943 shares of company stock worth $1,385,765. 0.12% of the stock is owned by company insiders.
Shares of E*TRADE Financial stock opened at $51.44 on Tuesday. E*TRADE Financial Corp has a 12-month low of $42.56 and a 12-month high of $66.46. The company has a market cap of $12.99 billion, a PE ratio of 23.49, a P/E/G ratio of 0.80 and a beta of 1.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.
E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.17. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. The business had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $710.62 million. During the same quarter in the prior year, the business earned $0.49 EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities analysts expect that E*TRADE Financial Corp will post 3.77 earnings per share for the current fiscal year.
E*TRADE Financial announced that its board has authorized a share repurchase plan on Thursday, October 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Tuesday, October 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Monday, October 29th. E*TRADE Financial’s dividend payout ratio (DPR) is presently 25.57%.
A number of equities research analysts have recently issued reports on ETFC shares. Jefferies Financial Group upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, September 25th. Wolfe Research started coverage on E*TRADE Financial in a research note on Tuesday, September 25th. They set a “market perform” rating on the stock. BidaskClub cut E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Finally, Morgan Stanley set a $70.00 price objective on E*TRADE Financial and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $65.00.
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About E*TRADE Financial
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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