E*TRADE Financial Corporation (ETFC) Stake Decreased by NorthCoast Asset Management LLC

NorthCoast Asset Management LLC lessened its position in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 85.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,663 shares of the financial services provider’s stock after selling 34,083 shares during the period. NorthCoast Asset Management LLC’s holdings in E*TRADE Financial Corporation were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of ETFC. Advisors Asset Management Inc. lifted its holdings in shares of E*TRADE Financial Corporation by 80.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 1,448 shares during the period. Exane Derivatives bought a new stake in shares of E*TRADE Financial Corporation during the 2nd quarter worth approximately $130,000. Financial Counselors Inc. bought a new stake in shares of E*TRADE Financial Corporation during the 2nd quarter worth approximately $203,000. Meeder Asset Management Inc. lifted its holdings in shares of E*TRADE Financial Corporation by 163.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 3,513 shares during the period. Finally, Eagle Global Advisors LLC bought a new stake in shares of E*TRADE Financial Corporation during the 2nd quarter worth approximately $221,000. 92.65% of the stock is owned by institutional investors.

In other news, Director James P. Healy purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was bought at an average cost of $41.97 per share, for a total transaction of $209,850.00. Following the acquisition, the director now directly owns 40,792 shares of the company’s stock, valued at approximately $1,712,040.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael A. Pizzi sold 9,977 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $39.41, for a total transaction of $393,193.57. Following the sale, the chief financial officer now owns 110,142 shares of the company’s stock, valued at $4,340,696.22. The disclosure for this sale can be found here. Insiders have sold a total of 30,571 shares of company stock valued at $1,216,708 over the last quarter. 0.17% of the stock is currently owned by company insiders.

A number of analysts have recently weighed in on ETFC shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $41.00 price target (up previously from $40.00) on shares of E*TRADE Financial Corporation in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $43.00 price target (up previously from $39.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $41.00 price target (up previously from $40.00) on shares of E*TRADE Financial Corporation in a report on Monday, June 12th. SunTrust Banks, Inc. upped their price target on shares of E*TRADE Financial Corporation from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, June 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price target on shares of E*TRADE Financial Corporation in a report on Friday, July 21st. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $41.61.

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E*TRADE Financial Corporation (NASDAQ:ETFC) opened at 40.44 on Tuesday. The stock’s 50 day moving average is $40.68 and its 200 day moving average is $37.01. The company has a market cap of $11.14 billion, a P/E ratio of 18.90 and a beta of 1.46. E*TRADE Financial Corporation has a 1-year low of $26.34 and a 1-year high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The company had revenue of $577 million during the quarter, compared to analyst estimates of $553.31 million. During the same period in the prior year, the business posted $0.48 EPS. The firm’s revenue was up 21.7% compared to the same quarter last year. Equities analysts anticipate 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 of Directors has approved a stock 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

About E*TRADE Financial Corporation

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.

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

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