Public Employees Retirement Association of Colorado Cuts Position in E*TRADE Financial Corporation (ETFC)

Public Employees Retirement Association of Colorado decreased its position in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 56,097 shares of the financial services provider’s stock after selling 186 shares during the period. Public Employees Retirement Association of Colorado’s holdings in E*TRADE Financial Corporation were worth $2,133,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ETFC. State of Alaska Department of Revenue purchased a new stake in E*TRADE Financial Corporation during the first quarter worth about $357,000. Boston Partners increased its stake in E*TRADE Financial Corporation by 118.2% in the first quarter. Boston Partners now owns 241,034 shares of the financial services provider’s stock worth $8,410,000 after buying an additional 130,552 shares during the period. Bank of Nova Scotia increased its stake in E*TRADE Financial Corporation by 71.8% in the first quarter. Bank of Nova Scotia now owns 614,202 shares of the financial services provider’s stock worth $21,430,000 after buying an additional 256,788 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in 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 worth $8,262,000 after buying an additional 7,438 shares during the period. Finally, Aberdeen Asset Management PLC UK increased its stake in E*TRADE Financial Corporation by 304.8% in the first quarter. Aberdeen Asset Management PLC UK now owns 264,548 shares of the financial services provider’s stock worth $9,230,000 after buying an additional 199,191 shares during the period. 93.19% of the stock is owned by hedge funds and other institutional investors.

E*TRADE Financial Corporation (ETFC) opened at 41.15 on Thursday. The company has a 50 day moving average price of $39.48 and a 200 day moving average price of $36.43. The firm has a market cap of $11.33 billion, a PE ratio of 19.23 and a beta of 1.48. E*TRADE Financial Corporation has a 1-year low of $24.49 and a 1-year high of $42.19.

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

E*TRADE Financial Corporation declared that its board has initiated a share repurchase plan on Thursday, July 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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ETFC has been the subject of a number of research reports. Instinet reissued a “buy” rating and set a $47.00 price target (up previously 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 reaffirmed an “equal weight” rating and issued a $40.00 target price (up previously from $38.00) on shares of E*TRADE Financial Corporation in a research report on Monday, July 10th. Deutsche Bank AG reaffirmed 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 issued a $41.00 target price 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 assigned a buy rating to the stock. E*TRADE Financial Corporation presently has a consensus rating of “Buy” and a consensus price target of $40.94.

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

Want to see what other hedge funds are holding ETFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for E*TRADE Financial Corporation (NASDAQ:ETFC).

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

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