Piedmont Investment Advisors LLC boosted its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 17.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,071 shares of the financial services provider’s stock after acquiring an additional 18,826 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in E*TRADE Financial were worth $5,542,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. California Public Employees Retirement System grew its holdings in E*TRADE Financial by 2.6% during the 3rd quarter. California Public Employees Retirement System now owns 747,910 shares of the financial services provider’s stock worth $32,616,000 after acquiring an additional 18,880 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in E*TRADE Financial during the 3rd quarter worth approximately $136,000. Cubist Systematic Strategies LLC grew its holdings in E*TRADE Financial by 563.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 32,647 shares of the financial services provider’s stock worth $1,424,000 after acquiring an additional 27,723 shares during the last quarter. Janus Henderson Group PLC grew its holdings in E*TRADE Financial by 70.6% during the 3rd quarter. Janus Henderson Group PLC now owns 2,494,035 shares of the financial services provider’s stock worth $108,765,000 after acquiring an additional 1,031,749 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in E*TRADE Financial by 2.1% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 525,706 shares of the financial services provider’s stock worth $22,924,000 after acquiring an additional 10,661 shares during the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

ETFC has been the topic of a number of research reports. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, October 10th. Deutsche Bank upped their price objective on shares of E*TRADE Financial from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. SunTrust Banks reaffirmed a “buy” rating and issued a $50.00 price objective on shares of E*TRADE Financial in a research note on Friday, October 20th. Bank of America raised shares of E*TRADE Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $49.00 in a research note on Monday, October 9th. Finally, Credit Suisse Group initiated coverage on shares of E*TRADE Financial in a research note on Thursday, November 30th. They issued an “outperform” rating and a $56.00 price objective on the stock. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.40.

Shares of E*TRADE Financial Corp (NASDAQ:ETFC) opened at $48.70 on Thursday. The company has a market cap of $13,303.24, a price-to-earnings ratio of 25.07, a PEG ratio of 1.76 and a beta of 1.45. E*TRADE Financial Corp has a 12 month low of $32.25 and a 12 month high of $50.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27.

E*TRADE Financial (NASDAQ:ETFC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.04. The business had revenue of $599.00 million for the quarter, compared to analyst estimates of $598.96 million. E*TRADE Financial had a net margin of 27.35% and a return on equity of 9.34%. E*TRADE Financial’s revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. sell-side analysts anticipate that E*TRADE Financial Corp will post 2.26 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This story was first published by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.watchlistnews.com/piedmont-investment-advisors-llc-boosts-holdings-in-etrade-financial-corp-etfc/1762659.html.

About E*TRADE Financial

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.

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)

Receive News & Ratings for E*TRADE Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial and related companies with MarketBeat.com's FREE daily email newsletter.