Cozad Asset Management Inc. Has $388,000 Stake in E*TRADE Financial Corp (NASDAQ:ETFC)

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Cozad Asset Management Inc. boosted its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 11.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,890 shares of the financial services provider’s stock after buying an additional 940 shares during the quarter. Cozad Asset Management Inc.’s holdings in E*TRADE Financial were worth $388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in E*TRADE Financial by 2.4% during the 2nd quarter. BlackRock Inc. now owns 19,972,522 shares of the financial services provider’s stock worth $890,775,000 after buying an additional 469,538 shares during the period. Victory Capital Management Inc. lifted its holdings in E*TRADE Financial by 20.0% during the 2nd quarter. Victory Capital Management Inc. now owns 5,752,931 shares of the financial services provider’s stock worth $256,581,000 after buying an additional 957,204 shares during the period. Boston Partners lifted its holdings in E*TRADE Financial by 5.6% during the 2nd quarter. Boston Partners now owns 4,922,089 shares of the financial services provider’s stock worth $219,542,000 after buying an additional 262,016 shares during the period. First Trust Advisors LP lifted its holdings in E*TRADE Financial by 10.0% during the 2nd quarter. First Trust Advisors LP now owns 4,276,470 shares of the financial services provider’s stock worth $190,731,000 after buying an additional 389,154 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in E*TRADE Financial by 393.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,260,920 shares of the financial services provider’s stock worth $190,037,000 after buying an additional 3,397,462 shares during the period. 89.87% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on the company. Credit Suisse Group cut their target price on E*TRADE Financial from $57.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Raymond James lifted their target price on E*TRADE Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Co lifted their target price on E*TRADE Financial from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. ValuEngine downgraded E*TRADE Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 1st. Finally, Morgan Stanley lifted their target price on E*TRADE Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. E*TRADE Financial currently has an average rating of “Hold” and an average target price of $47.65.

Shares of NASDAQ:ETFC opened at $43.34 on Tuesday. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The business’s 50-day moving average is $41.06 and its 200-day moving average is $44.72. E*TRADE Financial Corp has a 1 year low of $34.68 and a 1 year high of $54.44.

E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $767.00 million for the quarter, compared to the consensus estimate of $742.83 million. E*TRADE Financial had a return on equity of 18.41% and a net margin of 35.79%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. Analysts anticipate that E*TRADE Financial Corp will post 4.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, November 7th. E*TRADE Financial’s dividend payout ratio is 14.40%.

E*TRADE Financial declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 18th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, EVP Michael John Curcio sold 53,584 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $45.18, for a total value of $2,420,925.12. Following the transaction, the executive vice president now directly owns 149,159 shares of the company’s stock, valued at approximately $6,739,003.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodger A. Lawson sold 5,109 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $230,824.62. Following the completion of the transaction, the director now directly owns 113,739 shares in the company, valued at $5,138,728.02. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

E*TRADE Financial Company Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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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