William Blair Investment Management LLC Decreases Holdings in E*TRADE Financial Corp (ETFC)

William Blair Investment Management LLC trimmed its position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 32.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,414 shares of the financial services provider’s stock after selling 6,585 shares during the quarter. William Blair Investment Management LLC’s holdings in E*TRADE Financial were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ETFC. BlackRock Inc. lifted its holdings in shares of E*TRADE Financial by 16.7% during the 2nd quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock valued at $1,551,060,000 after buying an additional 3,638,467 shares during the last quarter. Voya Investment Management LLC lifted its holdings 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 lifted its holdings 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 lifted its holdings 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 lifted its holdings 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. Institutional investors and hedge funds own 94.52% of the company’s stock.

ETFC opened at $45.74 on Friday. E*TRADE Financial Corp has a twelve month low of $45.50 and a twelve month high of $66.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The company 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.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.17. The company had revenue of $720.00 million for 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 company’s revenue for the quarter 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 expect that E*TRADE Financial Corp will post 3.85 earnings per share for the current year.

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

E*TRADE Financial declared that its Board of Directors has approved a stock buyback program on Thursday, October 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.

Several equities research analysts have recently issued reports on ETFC shares. BidaskClub upgraded E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Raymond James lowered E*TRADE Financial from a “strong-buy” rating to an “outperform” rating and set a $64.00 price target for the company. in a report on Tuesday, October 30th. Credit Suisse Group reiterated an “outperform” rating on shares of E*TRADE Financial in a report on Thursday, November 15th. Jefferies Financial Group upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Wednesday, September 19th. They noted that the move was a valuation call. Finally, Deutsche Bank reduced their price target on E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 22nd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.12.

In other E*TRADE Financial news, Chairman Rodger A. Lawson purchased 5,000 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were bought at an average cost of $51.26 per share, with a total value of $256,300.00. Following the transaction, the chairman now directly owns 109,191 shares in the company, valued at approximately $5,597,130.66. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael A. Pizzi purchased 10,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was acquired at an average cost of $51.67 per share, for a total transaction of $516,700.00. Following the completion of the transaction, the chief financial officer now owns 88,171 shares in the company, valued at $4,555,795.57. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 32,668 shares of company stock worth $1,685,354. Company insiders own 0.12% of the company’s stock.

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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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