Sei Investments Co. boosted its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 7.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 264,552 shares of the financial services provider’s stock after buying an additional 18,243 shares during the period. Sei Investments Co.’s holdings in E*TRADE Financial Corporation were worth $10,061,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Exane Derivatives purchased a new stake in shares of E*TRADE Financial Corporation during the second quarter worth about $130,000. Americafirst Capital Management LLC purchased a new stake in shares of E*TRADE Financial Corporation during the first quarter worth about $152,000. Meeder Asset Management Inc. boosted its stake in shares of E*TRADE Financial Corporation by 163.9% in the second quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock worth $215,000 after buying an additional 3,513 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in shares of E*TRADE Financial Corporation during the second quarter worth about $221,000. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of E*TRADE Financial Corporation by 0.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,021 shares of the financial services provider’s stock worth $229,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

E*TRADE Financial Corporation (ETFC) opened at 40.15 on Friday. The firm has a 50 day moving average price of $39.58 and a 200-day moving average price of $36.45. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 18.76 and a beta of 1.48. E*TRADE Financial Corporation has a 12 month low of $24.85 and a 12 month high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The firm had revenue of $577 million for the quarter, compared to analyst estimates of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The company’s revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. On average, equities analysts forecast that E*TRADE Financial Corporation will post $2.26 EPS for the current year.

E*TRADE Financial Corporation announced that its board has initiated a share buyback plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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A number of brokerages have recently issued reports on ETFC. Zacks Investment Research upgraded E*TRADE Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Wednesday, June 21st. Instinet restated 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. UBS AG restated a “buy” rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a report on Thursday, May 25th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $40.00 price target (up previously from $39.00) on shares of E*TRADE Financial Corporation in a report on Sunday, April 23rd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $40.94.

In other E*TRADE Financial Corporation news, Director James P. Healy bought 5,000 shares of the stock in a transaction on Tuesday, July 25th. The shares were purchased at an average price of $41.97 per share, with a total value of $209,850.00. Following the acquisition, the director now directly owns 40,792 shares of the company’s stock, valued at approximately $1,712,040.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brent Simonich sold 5,696 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the completion of the sale, the insider now directly owns 31,557 shares in the company, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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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