The Manufacturers Life Insurance Company trimmed its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 4.6% in the first quarter, Holdings Channel reports. The fund owned 519,691 shares of the financial services provider’s stock after selling 25,136 shares during the period. The Manufacturers Life Insurance Company’s holdings in E*TRADE Financial were worth $24,129,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of ETFC. Bronfman E.L. Rothschild L.P. grew its stake in shares of E*TRADE Financial by 32.0% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 915 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 222 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in E*TRADE Financial by 0.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,283 shares of the financial services provider’s stock worth $1,545,000 after purchasing an additional 259 shares during the last quarter. ETF Managers Group LLC increased its position in E*TRADE Financial by 11.3% in the 1st quarter. ETF Managers Group LLC now owns 2,587 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 262 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of E*TRADE Financial by 41.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,002 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 296 shares during the last quarter. Finally, Cozad Asset Management Inc. increased its holdings in shares of E*TRADE Financial by 4.3% during the 1st quarter. Cozad Asset Management Inc. now owns 7,200 shares of the financial services provider’s stock valued at $334,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 91.48% of the company’s stock.
Several equities analysts recently commented on ETFC shares. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Thursday, May 9th. BidaskClub upgraded E*TRADE Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. UBS Group lowered E*TRADE Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $51.00 in a report on Wednesday, February 20th. Finally, Morgan Stanley boosted their price target on E*TRADE Financial from $59.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. E*TRADE Financial currently has a consensus rating of “Buy” and a consensus target price of $58.45.
In related news, Director Rodger A. Lawson sold 41,322 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the completion of the transaction, the director now owns 114,753 shares in the company, valued at $5,523,061.89. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Shares of NASDAQ:ETFC opened at $45.90 on Friday. The firm has a market capitalization of $11.13 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. E*TRADE Financial Corp has a 52 week low of $40.41 and a 52 week high of $65.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.24 and a current ratio of 0.24.
E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.16. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $738.04 million. E*TRADE Financial had a net margin of 37.50% and a return on equity of 18.06%. E*TRADE Financial’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. As a group, equities analysts forecast that E*TRADE Financial Corp will post 4.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, May 10th. This represents a $0.56 dividend on an annualized basis and a yield of 1.22%. E*TRADE Financial’s dividend payout ratio is currently 14.40%.
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E*TRADE Financial Company Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.
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