E*TRADE Financial Corp (ETFC) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. lowered its stake in E*TRADE Financial Corp (NASDAQ:ETFC) by 20.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,605 shares of the financial services provider’s stock after selling 1,407 shares during the period. FDx Advisors Inc.’s holdings in E*TRADE Financial were worth $294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETFC. BlackRock Inc. increased its position in shares of 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 worth $1,551,060,000 after purchasing an additional 3,638,467 shares during the last quarter. Voya Investment Management LLC grew its position in shares of E*TRADE Financial by 2,043.1% during 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 buying an additional 2,784,761 shares during the last quarter. FMR LLC grew its position in shares of E*TRADE Financial by 10.5% during the 2nd quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock valued at $936,560,000 after buying an additional 1,452,296 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of E*TRADE Financial by 2,093.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 923,440 shares of the financial services provider’s stock valued at $48,379,000 after buying an additional 881,347 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of E*TRADE Financial by 23.3% during 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 buying an additional 879,210 shares during the last quarter. 94.52% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on the stock. Deutsche Bank lowered their price objective on shares of E*TRADE Financial from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Goldman Sachs Group assumed coverage on shares of E*TRADE Financial in a research report on Friday, November 30th. They set a “buy” rating and a $64.00 price objective for the company. Credit Suisse Group reaffirmed an “outperform” rating on shares of E*TRADE Financial in a research report on Thursday, November 15th. BidaskClub raised shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. Finally, Morgan Stanley lowered their price objective on shares of E*TRADE Financial from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. E*TRADE Financial presently has an average rating of “Buy” and a consensus price target of $64.12.

In related news, insider Rodger A. Lawson purchased 10,000 shares of E*TRADE Financial stock in a transaction dated Monday, November 5th. The stock was bought at an average cost of $51.27 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joshua Weinreich purchased 5,725 shares of E*TRADE Financial stock in a transaction dated Tuesday, November 6th. The stock was bought at an average cost of $52.33 per share, with a total value of $299,589.25. Following the completion of the purchase, the director now owns 7,318 shares in the company, valued at approximately $382,950.94. The disclosure for this purchase can be found here. Insiders have acquired a total of 32,668 shares of company stock valued at $1,685,354 over the last three months. 0.12% of the stock is currently owned by company insiders.

E*TRADE Financial stock opened at $45.74 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.73 and a beta of 1.09. E*TRADE Financial Corp has a 52-week low of $45.50 and a 52-week high of $66.46.

E*TRADE Financial (NASDAQ:ETFC) last posted its earnings results on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.17. The firm had revenue of $720.00 million during the quarter, compared to analyst estimates of $710.62 million. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. E*TRADE Financial’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. Equities analysts forecast that E*TRADE Financial Corp will post 3.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Monday, October 29th. E*TRADE Financial’s payout ratio is 25.57%.

E*TRADE Financial announced that its Board of Directors has authorized a share repurchase program on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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

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