Picton Mahoney Asset Management Sells 55,250 Shares of E*TRADE Financial Corp (ETFC)

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Picton Mahoney Asset Management trimmed its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,550 shares of the financial services provider’s stock after selling 55,250 shares during the period. E*TRADE Financial comprises 1.3% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 24th largest position. Picton Mahoney Asset Management owned 0.13% of E*TRADE Financial worth $14,637,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ETFC. IFP Advisors Inc lifted its position in E*TRADE Financial by 93.0% during the fourth quarter. IFP Advisors Inc now owns 965 shares of the financial services provider’s stock valued at $42,000 after buying an additional 465 shares in the last quarter. FNY Investment Advisers LLC lifted its position in E*TRADE Financial by 100.0% during the fourth quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock valued at $43,000 after buying an additional 500 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of E*TRADE Financial by 751.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,047 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 924 shares in the last quarter. Csenge Advisory Group acquired a new position in shares of E*TRADE Financial during the third quarter worth $58,000. Finally, CWM LLC lifted its position in shares of E*TRADE Financial by 41.0% during the fourth quarter. CWM LLC now owns 1,500 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 436 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

ETFC opened at $46.38 on Tuesday. The firm has a market capitalization of $11.69 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.03 and a beta of 1.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 0.28. E*TRADE Financial Corp has a 12-month low of $40.41 and a 12-month high of $66.46.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, January 24th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.01. The firm had revenue of $735.00 million for the quarter, compared to analysts’ expectations of $745.69 million. E*TRADE Financial had a net margin of 36.62% and a return on equity of 17.27%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, equities research analysts anticipate that E*TRADE Financial Corp will post 4.15 EPS for the current fiscal year.

E*TRADE Financial announced that its board has authorized a stock repurchase plan on Thursday, October 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be issued a $0.14 dividend. The ex-dividend date is Thursday, January 31st. This represents a $0.56 annualized dividend and a yield of 1.21%. E*TRADE Financial’s dividend payout ratio is presently 14.40%.

In related news, Director Robert J. Chersi purchased 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The shares were purchased at an average cost of $46.24 per share, with a total value of $101,728.00. Following the completion of the acquisition, the director now directly owns 3,253 shares of the company’s stock, valued at approximately $150,418.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James P. Healy purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 11th. The stock was bought at an average cost of $45.36 per share, for a total transaction of $226,800.00. Following the completion of the acquisition, the director now directly owns 49,735 shares of the company’s stock, valued at $2,255,979.60. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.

A number of research analysts have recently commented on the stock. Morgan Stanley set a $62.00 target price on shares of E*TRADE Financial and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Credit Suisse Group reissued a “buy” rating on shares of E*TRADE Financial in a research report on Friday, January 25th. ValuEngine cut shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Barclays boosted their target price on shares of E*TRADE Financial to $55.00 and gave the stock an “overweight” rating in a research report on Friday, January 25th. Finally, Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $62.24.

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E*TRADE Financial Company Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.

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

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