Parallel Advisors LLC grew its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 17.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,747 shares of the financial services provider’s stock after purchasing an additional 259 shares during the period. Parallel Advisors LLC’s holdings in E*TRADE Financial were worth $76,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. APG Asset Management N.V. raised its position in shares of E*TRADE Financial by 17.4% in the second quarter. APG Asset Management N.V. now owns 29,000 shares of the financial services provider’s stock worth $1,136,000 after buying an additional 4,300 shares in the last quarter. 180 Wealth Advisors LLC bought a new position in shares of E*TRADE Financial in the third quarter worth approximately $587,000. Bank of Nova Scotia raised its stake in E*TRADE Financial by 4.0% in the second quarter. Bank of Nova Scotia now owns 1,614,644 shares of the financial services provider’s stock valued at $72,013,000 after purchasing an additional 62,599 shares in the last quarter. BlackRock Inc. raised its position in shares of E*TRADE Financial by 2.4% during the 2nd 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 in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of E*TRADE Financial during the 2nd quarter worth $623,000. 84.60% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on the company. Raymond James lifted their price target on E*TRADE Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley upped their price objective on shares of E*TRADE Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Barclays boosted their target price on E*TRADE Financial from $32.00 to $39.00 and gave the company an “underweight” rating in a research note on Wednesday, November 27th. UBS Group boosted their price objective on E*TRADE Financial from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group set a $44.00 price target on E*TRADE Financial and gave the company a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. E*TRADE Financial presently has a consensus rating of “Hold” and an average price target of $47.13.
In related news, EVP Michael John Curcio sold 53,584 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $45.18, for a total value of $2,420,925.12. Following the sale, the executive vice president now directly owns 149,159 shares in the company, valued at $6,739,003.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rodger A. Lawson sold 5,109 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $230,824.62. Following the transaction, the director now owns 113,739 shares of the company’s stock, valued at $5,138,728.02. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.
NASDAQ:ETFC traded up $0.23 during mid-day trading on Thursday, reaching $45.49. The company’s stock had a trading volume of 4,295,025 shares, compared to its average volume of 3,120,104. The firm’s fifty day moving average price is $42.89 and its two-hundred day moving average price is $43.81. The stock has a market cap of $11.07 billion, a P/E ratio of 11.69, a PEG ratio of 1.45 and a beta of 1.22. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. E*TRADE Financial Corp has a 12-month low of $34.68 and a 12-month high of $52.35.
E*TRADE Financial (NASDAQ:ETFC) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.07. E*TRADE Financial had a return on equity of 18.41% and a net margin of 35.79%. The business had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $742.83 million. During the same period last year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts predict that E*TRADE Financial Corp will post 4.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, November 7th. E*TRADE Financial’s payout ratio is 14.40%.
E*TRADE Financial Profile
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.
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