E*TRADE Financial Corp (ETFC) Position Reduced by William Blair Investment Management LLC

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William Blair Investment Management LLC decreased its stake in E*TRADE Financial Corp (NASDAQ:ETFC) by 32.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,414 shares of the financial services provider’s stock after selling 6,585 shares during the period. William Blair Investment Management LLC’s holdings in E*TRADE Financial were worth $703,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in E*TRADE Financial by 46.7% in the second quarter. Renaissance Technologies LLC now owns 743,040 shares of the financial services provider’s stock worth $45,444,000 after purchasing an additional 236,600 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in E*TRADE Financial by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,546,675 shares of the financial services provider’s stock worth $94,595,000 after purchasing an additional 35,983 shares in the last quarter. CIBC World Markets Inc. lifted its stake in shares of E*TRADE Financial by 277.8% during the second 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 acquired a new position in shares of E*TRADE Financial during the second quarter valued at $647,000. Finally, Jupiter Asset Management Ltd. lifted its stake in shares of E*TRADE Financial by 7.2% during the second 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. 94.52% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Tuesday, September 25th. BidaskClub lowered E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Deutsche Bank cut their price target on E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, August 22nd. Raymond James lowered E*TRADE Financial from a “strong-buy” rating to an “outperform” rating and set a $64.00 price target on the stock. in a research note on Tuesday, October 30th. Finally, Morgan Stanley cut their price target on E*TRADE Financial from $69.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $64.12.

NASDAQ ETFC opened at $45.74 on Friday. The stock has a market capitalization of $12.05 billion, a P/E ratio of 20.89, a P/E/G ratio of 0.73 and a beta of 1.09. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. E*TRADE Financial Corp has a 12 month low of $45.50 and a 12 month high of $66.46.

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

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

E*TRADE Financial announced that its board has approved a share repurchase plan on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

In related news, CFO Michael A. Pizzi acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was acquired at an average price of $51.67 per share, for a total transaction of $516,700.00. Following the completion of the acquisition, the chief financial officer now owns 88,171 shares of the company’s stock, valued at approximately $4,555,795.57. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joshua Weinreich acquired 5,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average price of $52.33 per share, with a total value of $299,589.25. Following the acquisition, the director now directly owns 7,318 shares of the company’s stock, valued at approximately $382,950.94. The disclosure for this purchase can be found here. Insiders purchased 32,668 shares of company stock valued at $1,685,354 in the last quarter. 0.12% of the stock is currently owned by corporate insiders.

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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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Want to see what other hedge funds are holding ETFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for E*TRADE Financial Corp (NASDAQ:ETFC).

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

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