Aviva PLC raised its position in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,995 shares of the financial services provider’s stock after buying an additional 10,334 shares during the period. Aviva PLC owned approximately 0.07% of E*TRADE Financial Corporation worth $6,849,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. raised its position in E*TRADE Financial Corporation by 2,903.3% in the first quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock worth $633,844,000 after buying an additional 17,562,024 shares during the last quarter. Victory Capital Management Inc. raised its position in E*TRADE Financial Corporation by 79.2% in the first quarter. Victory Capital Management Inc. now owns 6,259,269 shares of the financial services provider’s stock worth $218,385,000 after buying an additional 2,766,050 shares during the last quarter. Westpac Banking Corp raised its position in E*TRADE Financial Corporation by 11,248.8% in the first quarter. Westpac Banking Corp now owns 2,522,959 shares of the financial services provider’s stock worth $96,538,000 after buying an additional 2,500,728 shares during the last quarter. Morgan Stanley raised its position in E*TRADE Financial Corporation by 272.0% in the first quarter. Morgan Stanley now owns 2,678,103 shares of the financial services provider’s stock worth $93,438,000 after buying an additional 1,958,159 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in E*TRADE Financial Corporation by 39.5% in the first quarter. TIAA CREF Investment Management LLC now owns 4,887,026 shares of the financial services provider’s stock worth $170,508,000 after buying an additional 1,384,420 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

E*TRADE Financial Corporation (ETFC) opened at 40.67 on Wednesday. E*TRADE Financial Corporation has a 52-week low of $25.59 and a 52-week high of $42.19. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 19.00 and a beta of 1.48. The firm’s 50-day moving average is $40.37 and its 200 day moving average is $36.75.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $577 million during the quarter, compared to analysts’ expectations of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. On average, equities research analysts predict that E*TRADE Financial Corporation will post $2.25 EPS for the current fiscal year.

E*TRADE Financial Corporation announced that its board has approved a share repurchase 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 buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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ETFC has been the subject of a number of recent analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $41.00 price target (up from $40.00) on shares of E*TRADE Financial Corporation in a research report on Monday, May 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $43.00 price target (up from $39.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Wells Fargo & Company reiterated an “outperform” rating and issued a $41.00 price target (up from $40.00) on shares of E*TRADE Financial Corporation in a research 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 research report on Friday, June 16th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 price target on shares of E*TRADE Financial Corporation in a research report on Friday, July 21st. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $40.94.

In related news, Director James P. Healy acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was purchased at an average price of $41.97 per share, for a total transaction of $209,850.00. Following the transaction, the director now owns 40,792 shares in the company, valued at approximately $1,712,040.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Karl A. Roessner sold 14,898 shares of E*TRADE Financial Corporation stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $39.41, for a total value of $587,130.18. Following the sale, the chief executive officer now owns 232,702 shares of the company’s stock, valued at approximately $9,170,785.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,571 shares of company stock valued at $1,216,708. 0.17% of the stock is currently owned by company insiders.

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.

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

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