Argent Capital Management LLC decreased its holdings in E*TRADE Financial Corporation (NASDAQ:ETFC) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,055,330 shares of the financial services provider’s stock after selling 10,640 shares during the quarter. E*TRADE Financial Corporation accounts for about 1.6% of Argent Capital Management LLC’s holdings, making the stock its 26th largest holding. Argent Capital Management LLC owned 0.38% of E*TRADE Financial Corporation worth $40,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aviva PLC raised its holdings in E*TRADE Financial Corporation by 6.1% in the 2nd quarter. Aviva PLC now owns 179,995 shares of the financial services provider’s stock worth $6,849,000 after purchasing an additional 10,334 shares during the period. Bank of Nova Scotia raised its holdings in E*TRADE Financial Corporation by 71.8% in the 1st quarter. Bank of Nova Scotia now owns 614,202 shares of the financial services provider’s stock worth $21,430,000 after purchasing an additional 256,788 shares during the period. Artemis Investment Management LLP acquired a new position in E*TRADE Financial Corporation in the 2nd quarter worth about $3,424,000. Burney Co. raised its holdings in E*TRADE Financial Corporation by 3.7% in the 2nd quarter. Burney Co. now owns 71,205 shares of the financial services provider’s stock worth $2,683,000 after purchasing an additional 2,563 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in E*TRADE Financial Corporation by 19.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,032 shares of the financial services provider’s stock worth $2,587,000 after purchasing an additional 11,170 shares during the period. 92.64% of the stock is owned by institutional investors.

In related news, insider Brent Simonich sold 5,696 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total transaction of $236,384.00. Following the completion of the transaction, the insider now directly owns 31,557 shares in the company, valued at approximately $1,309,615.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Karl A. Roessner sold 14,898 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $39.41, for a total value of $587,130.18. Following the transaction, the chief executive officer now owns 232,702 shares of the company’s stock, valued at $9,170,785.82. The disclosure for this sale can be found here. Insiders have sold a total of 72,623 shares of company stock valued at $2,915,711 over the last 90 days. Insiders own 0.17% of the company’s stock.

A number of equities analysts recently weighed in on the company. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $50.00 price target on shares of E*TRADE Financial Corporation in a report on Monday, September 18th. Instinet reaffirmed a “buy” rating and issued a $47.00 price target (up previously from $44.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. ValuEngine cut E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. JMP Securities reaffirmed an “outperform” rating and issued a $44.00 price target (up previously from $42.00) on shares of E*TRADE Financial Corporation in a report on Sunday, July 23rd. Finally, Barclays PLC assumed coverage on E*TRADE Financial Corporation in a report on Friday, September 8th. They issued an “overweight” rating and a $45.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. E*TRADE Financial Corporation has an average rating of “Buy” and a consensus target price of $43.27.

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E*TRADE Financial Corporation (ETFC) traded down 2.36% during midday trading on Friday, hitting $43.95. The stock had a trading volume of 5,712,772 shares. The firm has a market cap of $12.10 billion, a P/E ratio of 20.54 and a beta of 1.47. The stock has a 50-day moving average price of $41.53 and a 200 day moving average price of $37.96. E*TRADE Financial Corporation has a 12-month low of $27.34 and a 12-month high of $45.70.

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 Thomson Reuters’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The firm had revenue of $577.00 million during the quarter, compared to the consensus estimate of $553.31 million. During the same period in the previous year, the firm posted $0.48 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts anticipate that E*TRADE Financial Corporation will post $2.24 earnings per share for the current fiscal year.

E*TRADE Financial Corporation declared that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.

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

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