Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 806,846 shares of the financial services provider’s stock after selling 7,442 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.29% of E*TRADE Financial Corporation worth $30,684,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in E*TRADE Financial Corporation by 19.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,032 shares of the financial services provider’s stock valued at $2,587,000 after buying an additional 11,170 shares in the last quarter. Airain ltd acquired a new position in E*TRADE Financial Corporation during the second quarter valued at about $5,817,000. FSI Group LLC raised its position in E*TRADE Financial Corporation by 3.0% in the second quarter. FSI Group LLC now owns 172,000 shares of the financial services provider’s stock valued at $6,541,000 after buying an additional 5,000 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in E*TRADE Financial Corporation by 32.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 243,092 shares of the financial services provider’s stock valued at $9,246,000 after buying an additional 60,130 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in E*TRADE Financial Corporation during the second quarter valued at about $5,669,000. 92.65% of the stock is owned by institutional investors.

Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 41.01 on Friday. E*TRADE Financial Corporation has a 52-week low of $25.59 and a 52-week high of $42.19. The stock has a market cap of $11.29 billion, a P/E ratio of 19.16 and a beta of 1.48. The firm’s 50 day moving average price is $40.62 and its 200 day moving average price is $36.90.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $577 million during the quarter, compared to the consensus estimate of $553.31 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, analysts expect that E*TRADE Financial Corporation will post $2.25 EPS for the current year.

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

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/01/etrade-financial-corporation-etfc-position-decreased-by-mitsubishi-ufj-trust-banking-corp.html.

Several equities analysts have recently issued reports on the company. BidaskClub lowered E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 target price (up from $40.00) on shares of E*TRADE Financial Corporation in a report on Tuesday, July 25th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of E*TRADE Financial Corporation in a report on Monday, July 24th. JMP Securities reaffirmed an “outperform” rating and issued a $44.00 target price (up from $42.00) on shares of E*TRADE Financial Corporation in a report on Sunday, July 23rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $49.00 target price (up from $43.00) 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 assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.94.

In other news, CFO Michael A. Pizzi sold 9,977 shares of the business’s stock in a transaction on Friday, August 18th. The shares were 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 owns 110,142 shares of the company’s stock, valued at approximately $4,340,696.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James P. Healy acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were acquired at an average cost of $41.97 per share, with a total value of $209,850.00. Following the transaction, the director now owns 40,792 shares in the company, valued at $1,712,040.24. The disclosure for this purchase can be found here. In the last three months, insiders have sold 30,571 shares of company stock valued at $1,216,708. 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.

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

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