Airain ltd acquired a new position in E*TRADE Financial Corporation (NASDAQ:ETFC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 152,946 shares of the financial services provider’s stock, valued at approximately $5,817,000. Airain ltd owned 0.06% of E*TRADE Financial Corporation at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Eqis Capital Management Inc. acquired a new position in shares of E*TRADE Financial Corporation during the first quarter worth approximately $987,000. Tyers Asset Management LLC increased its position in shares of E*TRADE Financial Corporation by 1.5% in the first quarter. Tyers Asset Management LLC now owns 257,774 shares of the financial services provider’s stock worth $8,994,000 after buying an additional 3,894 shares during the period. State Treasurer State of Michigan increased its position in shares of E*TRADE Financial Corporation by 0.8% in the first quarter. State Treasurer State of Michigan now owns 90,258 shares of the financial services provider’s stock worth $3,149,000 after buying an additional 700 shares during the period. APG Asset Management N.V. increased its position in shares of E*TRADE Financial Corporation by 9.2% in the first quarter. APG Asset Management N.V. now owns 2,257,235 shares of the financial services provider’s stock worth $78,755,000 after buying an additional 189,298 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of E*TRADE Financial Corporation by 1.7% in the first quarter. Great West Life Assurance Co. Can now owns 231,376 shares of the financial services provider’s stock worth $8,064,000 after buying an additional 3,893 shares during the period. 92.65% of the stock is owned by institutional investors.

Shares of E*TRADE Financial Corporation (ETFC) opened at 41.07 on Monday. The stock’s 50 day moving average is $40.37 and its 200-day moving average is $36.75. E*TRADE Financial Corporation has a one year low of $25.59 and a one year high of $42.19. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 19.19 and a beta of 1.48.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The business had revenue of $577 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same quarter last year, the company earned $0.48 EPS. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. 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 declared that its Board of Directors has initiated a share buyback plan on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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A number of equities analysts recently commented on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price objective (up previously from $40.00) on shares of E*TRADE Financial Corporation in a research note on Tuesday, July 25th. Deutsche Bank AG lifted their price target on shares of E*TRADE Financial Corporation from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Bank of America Corporation lifted their price target on shares of E*TRADE Financial Corporation from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. ValuEngine lowered shares of E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Finally, Instinet reaffirmed a “buy” rating and issued a $47.00 price target (up from $44.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.94.

In related news, CEO Karl A. Roessner sold 14,898 shares of the stock in a transaction dated Friday, August 18th. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael A. Pizzi sold 9,977 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $39.41, for a total transaction of $393,193.57. Following the completion of the sale, the chief financial officer now directly owns 110,142 shares in the company, valued at approximately $4,340,696.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,571 shares of company stock worth $1,216,708. Corporate 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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