Legal & General Group Plc raised its stake in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,296,785 shares of the financial services provider’s stock after buying an additional 2,698 shares during the period. Legal & General Group Plc owned 0.47% of E*TRADE Financial Corporation worth $49,318,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in E*TRADE Financial Corporation by 3.6% in the first quarter. Vanguard Group Inc. now owns 29,010,665 shares of the financial services provider’s stock valued at $1,012,182,000 after buying an additional 1,019,443 shares during the period. BlackRock Inc. increased its stake in shares of E*TRADE Financial Corporation by 2,903.3% in the first quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock valued at $633,844,000 after buying an additional 17,562,024 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of E*TRADE Financial Corporation by 4.9% in the first quarter. Primecap Management Co. CA now owns 12,762,600 shares of the financial services provider’s stock valued at $445,287,000 after buying an additional 598,400 shares in the last quarter. State Street Corp increased its stake in shares of E*TRADE Financial Corporation by 1.8% in the first quarter. State Street Corp now owns 12,755,327 shares of the financial services provider’s stock valued at $445,031,000 after buying an additional 221,060 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of E*TRADE Financial Corporation by 79.2% in the first quarter. Victory Capital Management Inc. now owns 6,259,269 shares of the financial services provider’s stock valued at $218,385,000 after buying an additional 2,766,050 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

E*TRADE Financial Corporation (NASDAQ:ETFC) opened at 41.03 on Tuesday. The stock has a market cap of $11.30 billion, a P/E ratio of 19.17 and a beta of 1.48. E*TRADE Financial Corporation has a 1-year low of $25.59 and a 1-year high of $42.19. The company has a 50-day moving average of $40.37 and a 200 day moving average of $36.75.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $577 million for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.48 EPS. Analysts predict that E*TRADE Financial Corporation will post $2.25 EPS for the current year.

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

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Several equities research analysts have recently weighed in on ETFC shares. Deutsche Bank AG reissued a “buy” rating and issued a $41.00 target price (up previously from $40.00) on shares of E*TRADE Financial Corporation in a research note on Monday, May 15th. Jefferies Group LLC reissued a “hold” rating and issued a $43.00 target price (up previously from $39.00) on shares of E*TRADE Financial Corporation in a research note on Saturday, July 22nd. Wells Fargo & Company reissued an “outperform” rating and issued a $41.00 target price (up previously from $40.00) on shares of E*TRADE Financial Corporation in a research note on Monday, June 12th. SunTrust Banks, Inc. increased their target price on shares of E*TRADE Financial Corporation from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 target price on shares of E*TRADE Financial Corporation in a research note on Friday, July 21st. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. E*TRADE Financial Corporation has an average rating of “Buy” and an average price target of $40.94.

In related news, Director James P. Healy bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were acquired at an average cost of $41.97 per share, for a total transaction of $209,850.00. Following the acquisition, the director now owns 40,792 shares in the company, valued at approximately $1,712,040.24. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brent Simonich sold 5,696 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the sale, the insider now owns 31,557 shares in the company, valued at $1,309,615.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,571 shares of company stock worth $1,216,708. Company insiders own 0.17% of the company’s stock.

About E*TRADE Financial Corporation

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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