29,300 Shares in E*TRADE Financial Corporation (NASDAQ:ETFC) Acquired by Trexquant Investment LP

Trexquant Investment LP acquired a new stake in E*TRADE Financial Corporation (NASDAQ:ETFC) during the second quarter, Holdings Channel reports. The firm acquired 29,300 shares of the financial services provider’s stock, valued at approximately $1,114,000.

A number of other large investors also recently added to or reduced their stakes in the company. Exane Derivatives bought a new stake in E*TRADE Financial Corporation during the second quarter valued at approximately $130,000. Americafirst Capital Management LLC bought a new stake in E*TRADE Financial Corporation during the first quarter valued at approximately $152,000. Meeder Asset Management Inc. raised its stake in E*TRADE Financial Corporation by 163.9% in the second quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock valued at $215,000 after buying an additional 3,513 shares in the last quarter. Eagle Global Advisors LLC bought a new stake in E*TRADE Financial Corporation during the second quarter valued at approximately $221,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in E*TRADE Financial Corporation during the second quarter valued at approximately $226,000. Institutional investors and hedge funds own 93.19% of the company’s stock.

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. E*TRADE Financial Corporation has a 1-year low of $24.85 and a 1-year high of $42.19. The firm has a market capitalization of $11.33 billion, a P/E ratio of 19.23 and a beta of 1.48.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 9.06% and a net margin of 28.42%. E*TRADE Financial Corporation’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Analysts expect that E*TRADE Financial Corporation will post $2.26 earnings per share for the current fiscal year.

E*TRADE Financial Corporation declared that its board has authorized a share buyback program on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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Several equities research analysts have commented on ETFC shares. UBS AG restated a “buy” rating and issued a $43.00 price objective on shares of E*TRADE Financial Corporation in a research report on Thursday, May 25th. Deutsche Bank AG restated a “buy” rating and issued a $41.00 price objective (up previously from $40.00) on shares of E*TRADE Financial Corporation in a research report on Monday, May 15th. Zacks Investment Research upgraded E*TRADE Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Wednesday, June 21st. SunTrust Banks, Inc. upped their price objective on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. Finally, Instinet restated a “buy” rating and issued a $44.00 price objective (up previously from $42.00) on shares of E*TRADE Financial Corporation in a research report on Sunday, April 23rd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. E*TRADE Financial Corporation 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 the business’s stock in a transaction on Wednesday, July 26th. The stock was 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 directly owns 31,557 shares of the company’s stock, valued at $1,309,615.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James P. Healy purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was bought at an average cost of $41.97 per share, with a total value of $209,850.00. Following the completion of the acquisition, the director now owns 40,792 shares of the company’s stock, valued at $1,712,040.24. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

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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