November 10, 2019 at 2:25 pm

E*TRADE Financial Corp (NASDAQ:ETFC) Shares Sold by Russell Investments Group Ltd.

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Russell Investments Group Ltd. lessened its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 489,056 shares of the financial services provider’s stock after selling 113,162 shares during the period. Russell Investments Group Ltd.’s holdings in E*TRADE Financial were worth $21,322,000 as of its most recent SEC filing.

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Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of E*TRADE Financial by 2.4% in the second quarter. BlackRock Inc. now owns 19,972,522 shares of the financial services provider’s stock valued at $890,775,000 after buying an additional 469,538 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of E*TRADE Financial by 20.0% in the second quarter. Victory Capital Management Inc. now owns 5,752,931 shares of the financial services provider’s stock valued at $256,581,000 after buying an additional 957,204 shares during the last quarter. Boston Partners raised its position in shares of E*TRADE Financial by 5.6% in the second quarter. Boston Partners now owns 4,922,089 shares of the financial services provider’s stock valued at $219,542,000 after buying an additional 262,016 shares during the last quarter. First Trust Advisors LP raised its position in shares of E*TRADE Financial by 10.0% in the second quarter. First Trust Advisors LP now owns 4,276,470 shares of the financial services provider’s stock valued at $190,731,000 after buying an additional 389,154 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of E*TRADE Financial by 393.5% in the second quarter. Nuveen Asset Management LLC now owns 4,260,920 shares of the financial services provider’s stock valued at $190,037,000 after buying an additional 3,397,462 shares during the last quarter. 89.87% of the stock is owned by institutional investors and hedge funds.

Shares of E*TRADE Financial stock traded up $0.01 during trading hours on Friday, hitting $43.48. The company’s stock had a trading volume of 1,668,700 shares, compared to its average volume of 2,903,094. E*TRADE Financial Corp has a 1-year low of $34.68 and a 1-year high of $54.08. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $10.65 billion, a PE ratio of 11.18, a P/E/G ratio of 1.42 and a beta of 1.21. The business has a fifty day moving average of $40.93 and a 200 day moving average of $44.58.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.07. E*TRADE Financial had a net margin of 35.79% and a return on equity of 18.41%. The firm had revenue of $767.00 million for the quarter, compared to the consensus estimate of $742.83 million. During the same period in the prior year, the firm posted $1.00 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that E*TRADE Financial Corp will post 4.09 earnings per share for the current fiscal year.

E*TRADE Financial declared that its board has initiated a share buyback program on Thursday, July 18th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a $0.14 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.29%. E*TRADE Financial’s payout ratio is currently 14.40%.

In other news, EVP Michael John Curcio sold 53,584 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $2,420,925.12. Following the transaction, the executive vice president now directly owns 149,159 shares in the company, valued at approximately $6,739,003.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rodger A. Lawson sold 5,109 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $45.18, for a total transaction of $230,824.62. Following the completion of the transaction, the director now owns 113,739 shares in the company, valued at $5,138,728.02. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. ValuEngine lowered shares of E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 1st. Jefferies Financial Group set a $44.00 price objective on shares of E*TRADE Financial and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price objective on shares of E*TRADE Financial from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods lowered shares of E*TRADE Financial from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $55.00 to $45.50 in a research report on Monday, September 9th. Finally, Deutsche Bank upped their price target on shares of E*TRADE Financial from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.65.

About E*TRADE Financial

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.

Further Reading: Death Cross

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

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