PCJ Investment Counsel Ltd. lowered its stake in E*TRADE Financial Corp (NASDAQ:ETFC) by 40.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the financial services provider’s stock after selling 33,646 shares during the period. PCJ Investment Counsel Ltd.’s holdings in E*TRADE Financial were worth $2,322,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of E*TRADE Financial during the fourth quarter valued at $103,578,000. Oregon Public Employees Retirement Fund raised its stake in shares of E*TRADE Financial by 1,689.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,499,423 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,415,639 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of E*TRADE Financial by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,292,883 shares of the financial services provider’s stock valued at $232,252,000 after acquiring an additional 878,417 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in shares of E*TRADE Financial by 344.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 1,048,004 shares of the financial services provider’s stock valued at $45,987,000 after acquiring an additional 812,405 shares during the last quarter. Finally, Boston Partners raised its stake in shares of E*TRADE Financial by 23.2% during the fourth quarter. Boston Partners now owns 4,092,445 shares of the financial services provider’s stock valued at $179,576,000 after acquiring an additional 770,524 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

In related news, Director Rodger A. Lawson sold 41,322 shares of E*TRADE Financial stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the completion of the transaction, the director now owns 114,753 shares of the company’s stock, valued at $5,523,061.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Several research firms have recently issued reports on ETFC. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Wednesday, January 23rd. BidaskClub raised shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Morgan Stanley set a $62.00 price target on shares of E*TRADE Financial and gave the company a “buy” rating in a research note on Tuesday, January 29th. ValuEngine downgraded shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of E*TRADE Financial in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $59.67.

Shares of NASDAQ ETFC opened at $47.93 on Wednesday. E*TRADE Financial Corp has a twelve month low of $40.41 and a twelve month high of $66.46. The firm has a market cap of $11.73 billion, a P/E ratio of 12.32, a PEG ratio of 1.01 and a beta of 1.16. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.28.

E*TRADE Financial (NASDAQ:ETFC) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.16. E*TRADE Financial had a net margin of 37.50% and a return on equity of 18.06%. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $738.04 million. During the same quarter last year, the firm earned $0.88 earnings per share. E*TRADE Financial’s quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts predict that E*TRADE Financial Corp will post 4.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, May 10th. E*TRADE Financial’s dividend payout ratio is presently 14.40%.

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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.

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

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