NGAM Advisors L.P. Has $3.84 Million Position in E*TRADE Financial Corporation (NASDAQ:ETFC)

NGAM Advisors L.P. boosted its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,058 shares of the financial services provider’s stock after buying an additional 7,447 shares during the period. NGAM Advisors L.P.’s holdings in E*TRADE Financial Corporation were worth $3,843,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in shares of E*TRADE Financial Corporation by 1,850.8% in the fourth quarter. Macquarie Group Ltd. now owns 126,800 shares of the financial services provider’s stock valued at $4,394,000 after buying an additional 120,300 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of E*TRADE Financial Corporation by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 236,789 shares of the financial services provider’s stock valued at $8,262,000 after buying an additional 7,438 shares during the period. Bank of Montreal Can increased its stake in E*TRADE Financial Corporation by 85.8% in the first quarter. Bank of Montreal Can now owns 527,196 shares of the financial services provider’s stock valued at $18,393,000 after buying an additional 243,420 shares in the last quarter. Capstone Asset Management Co. increased its stake in E*TRADE Financial Corporation by 11.7% in the first quarter. Capstone Asset Management Co. now owns 38,337 shares of the financial services provider’s stock valued at $1,338,000 after buying an additional 4,030 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in E*TRADE Financial Corporation during the first quarter valued at about $152,000. 94.35% of the stock is currently owned by institutional investors.

Shares of E*TRADE Financial Corporation (ETFC) traded up 0.28% on Friday, reaching $39.72. The company had a trading volume of 3,053,133 shares. The company has a 50 day moving average price of $40.11 and a 200 day moving average price of $36.57. E*TRADE Financial Corporation has a 52-week low of $24.96 and a 52-week high of $42.19. The stock has a market capitalization of $10.94 billion, a PE ratio of 18.56 and a beta of 1.48.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The firm had revenue of $577 million for the quarter, compared to analyst estimates of $553.31 million. During the same period in the previous year, the business earned $0.48 EPS. The company’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts anticipate that E*TRADE Financial Corporation will post $2.25 earnings per share for the current year.

E*TRADE Financial Corporation announced that its board has initiated a share buyback plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: This news story was reported by Community Financial News and is the property of of Community Financial News. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.com-unik.info/2017/08/19/ngam-advisors-l-p-raises-stake-in-etrade-financial-corporation-nasdaqetfc-updated.html.

ETFC has been the topic of several recent research reports. Instinet reaffirmed a “buy” rating and set a $47.00 price objective (up from $44.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Zacks Investment Research raised E*TRADE Financial Corporation from a “sell” rating to a “hold” rating in a research report on Monday, April 24th. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 target price (up from $38.00) on shares of E*TRADE Financial Corporation in a research report on Monday, July 10th. Deutsche Bank AG reissued a “buy” rating on shares of E*TRADE Financial Corporation in a research report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $41.00 price objective on shares of E*TRADE Financial Corporation in a research report on Friday, April 21st. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $40.94.

In related news, Director James P. Healy bought 5,000 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Tuesday, July 25th. The stock was acquired at an average price of $41.97 per share, with a total value of $209,850.00. Following the acquisition, the director now owns 40,792 shares of the company’s stock, valued at approximately $1,712,040.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total transaction of $236,384.00. Following the completion of the sale, the insider now directly owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by 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)

What are top analysts saying about E*TRADE Financial Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for E*TRADE Financial Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit