Frontier Capital Management Co. LLC Sells 237,133 Shares of E*TRADE Financial Corp (ETFC)

Frontier Capital Management Co. LLC reduced its holdings in E*TRADE Financial Corp (NASDAQ:ETFC) by 13.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,540,310 shares of the financial services provider’s stock after selling 237,133 shares during the period. Frontier Capital Management Co. LLC’s holdings in E*TRADE Financial were worth $76,353,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of ETFC. FMR LLC lifted its position in shares of E*TRADE Financial by 24.3% in the 2nd quarter. FMR LLC now owns 10,737,023 shares of the financial services provider’s stock worth $408,329,000 after buying an additional 2,096,445 shares during the last quarter. Boston Partners lifted its position in shares of E*TRADE Financial by 180.2% in the 3rd quarter. Boston Partners now owns 3,031,853 shares of the financial services provider’s stock worth $132,219,000 after buying an additional 1,949,872 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of E*TRADE Financial by 3,455.2% in the 2nd quarter. Janus Henderson Group PLC now owns 1,462,286 shares of the financial services provider’s stock worth $55,611,000 after buying an additional 1,421,155 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of E*TRADE Financial in the 3rd quarter worth about $48,672,000. Finally, Northern Trust Corp lifted its position in shares of E*TRADE Financial by 29.1% in the 2nd quarter. Northern Trust Corp now owns 4,599,263 shares of the financial services provider’s stock worth $174,911,000 after buying an additional 1,035,976 shares during the last quarter. Institutional investors own 94.14% of the company’s stock.

ETFC has been the topic of several recent research reports. Credit Suisse Group reiterated an “outperform” rating and issued a $67.00 price objective (up from $56.00) on shares of E*TRADE Financial in a research report on Tuesday. Morgan Stanley upgraded shares of E*TRADE Financial from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $44.00 to $43.00 in a research report on Wednesday, January 3rd. Deutsche Bank lifted their price objective on shares of E*TRADE Financial from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, Bank of America upgraded shares of E*TRADE Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $49.00 in a research report on Monday, October 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. E*TRADE Financial presently has a consensus rating of “Buy” and an average target price of $51.13.

E*TRADE Financial Corp (ETFC) opened at $53.65 on Friday. The company has a market cap of $14,471.70, a PE ratio of 25.19, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. E*TRADE Financial Corp has a 52 week low of $32.25 and a 52 week high of $54.97.

E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.04. The firm had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $598.96 million. E*TRADE Financial had a net margin of 27.35% and a return on equity of 9.34%. E*TRADE Financial’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. equities research analysts forecast that E*TRADE Financial Corp will post 2.28 earnings per share for the current year.

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E*TRADE Financial 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 Corp (NASDAQ:ETFC).

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

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