MARSHALL WACE ASIA Ltd cut its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 51.5% during the third quarter, HoldingsChannel.com reports. The fund owned 97,657 shares of the financial services provider’s stock after selling 103,791 shares during the period. MARSHALL WACE ASIA Ltd’s holdings in E*TRADE Financial were worth $5,116,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of E*TRADE Financial by 16.7% in the second quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock worth $1,551,060,000 after purchasing an additional 3,638,467 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of E*TRADE Financial by 2,043.1% in the second quarter. Voya Investment Management LLC now owns 2,921,063 shares of the financial services provider’s stock worth $178,653,000 after purchasing an additional 2,784,761 shares during the last quarter. FMR LLC increased its holdings in shares of E*TRADE Financial by 10.5% in the second quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock worth $936,560,000 after purchasing an additional 1,452,296 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of E*TRADE Financial by 2,093.8% in the third quarter. Canada Pension Plan Investment Board now owns 923,440 shares of the financial services provider’s stock worth $48,379,000 after purchasing an additional 881,347 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of E*TRADE Financial by 23.3% in the third quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock worth $244,087,000 after purchasing an additional 879,210 shares during the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:ETFC traded down $1.25 during trading hours on Thursday, hitting $47.40. 6,735,603 shares of the company’s stock traded hands, compared to its average volume of 2,791,210. E*TRADE Financial Corp has a 1 year low of $45.97 and a 1 year high of $66.46. The firm has a market capitalization of $12.37 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 0.75 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28.

E*TRADE Financial (NASDAQ:ETFC) last announced its earnings results on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.17. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. The business had revenue of $720.00 million during the quarter, compared to analyst estimates of $710.62 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts expect that E*TRADE Financial Corp will post 3.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Tuesday, October 30th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, October 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.18%. E*TRADE Financial’s payout ratio is 25.57%.

E*TRADE Financial announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Several brokerages have recently issued reports on ETFC. BidaskClub raised E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Deutsche Bank reduced their target price on E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 22nd. Wolfe Research began coverage on E*TRADE Financial in a report on Tuesday, September 25th. They issued a “market perform” rating on the stock. Zacks Investment Research raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, September 25th. Finally, Jefferies Financial Group raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Wednesday, September 19th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.12.

In other news, insider Rodger A. Lawson purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the completion of the acquisition, the insider now owns 109,191 shares of the company’s stock, valued at $5,598,222.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brent Simonich purchased 1,943 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average price of $51.50 per share, with a total value of $100,064.50. Following the acquisition, the insider now directly owns 26,330 shares of the company’s stock, valued at approximately $1,355,995. The disclosure for this purchase can be found here. Insiders purchased 32,668 shares of company stock valued at $1,685,354 in the last quarter. 0.12% of the stock is owned by company insiders.

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About E*TRADE Financial

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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