E*TRADE Financial Corporation (ETFC) Stake Increased by LS Investment Advisors LLC

LS Investment Advisors LLC boosted its stake in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,948 shares of the financial services provider’s stock after buying an additional 701 shares during the period. LS Investment Advisors LLC’s holdings in E*TRADE Financial Corporation were worth $492,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of E*TRADE Financial Corporation by 2,903.3% in the first quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock valued at $633,844,000 after buying an additional 17,562,024 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of E*TRADE Financial Corporation by 79.2% in the first quarter. Victory Capital Management Inc. now owns 6,259,269 shares of the financial services provider’s stock valued at $218,385,000 after buying an additional 2,766,050 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of E*TRADE Financial Corporation by 11,248.8% in the first quarter. Westpac Banking Corp now owns 2,522,959 shares of the financial services provider’s stock valued at $96,538,000 after buying an additional 2,500,728 shares in the last quarter. Morgan Stanley boosted its stake in shares of E*TRADE Financial Corporation by 272.0% in the first quarter. Morgan Stanley now owns 2,678,103 shares of the financial services provider’s stock valued at $93,438,000 after buying an additional 1,958,159 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of E*TRADE Financial Corporation by 39.5% in the first quarter. TIAA CREF Investment Management LLC now owns 4,887,026 shares of the financial services provider’s stock valued at $170,508,000 after buying an additional 1,384,420 shares in the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

E*TRADE Financial Corporation (NASDAQ ETFC) opened at 40.42 on Thursday. The firm has a market cap of $11.13 billion, a P/E ratio of 18.89 and a beta of 1.48. E*TRADE Financial Corporation has a one year low of $24.85 and a one year high of $42.19. The company has a 50-day moving average of $40.00 and a 200 day moving average of $36.54.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $577 million for the quarter, compared to analysts’ expectations of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. Equities research analysts expect that E*TRADE Financial Corporation will post $2.26 earnings per share for the current fiscal year.

E*TRADE Financial Corporation announced that its board has authorized a stock repurchase program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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Several brokerages recently weighed in on ETFC. UBS AG restated a “buy” rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a research report on Thursday, May 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a research report on Friday, July 14th. BidaskClub lowered shares of E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Rosenblatt Securities started coverage on shares of E*TRADE Financial Corporation in a research note on Thursday, July 13th. They set a “buy” rating and a $43.00 price objective for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $40.94.

In other news, Director James P. Healy purchased 5,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were bought at an average cost of $41.97 per share, for a total transaction of $209,850.00. Following the transaction, the director now owns 40,792 shares in the company, valued at $1,712,040.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brent Simonich sold 5,696 shares of E*TRADE Financial Corporation stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the transaction, the insider now owns 31,557 shares in the company, valued at $1,309,615.50. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

E*TRADE Financial Corporation Company Profile

E*Trade Financial Corporation is a financial services company. The Company provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.

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

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