Financial Counselors Inc. bought a new position in E*TRADE Financial Corporation (NASDAQ:ETFC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,344 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETFC. Advisors Asset Management Inc. lifted its stake in E*TRADE Financial Corporation by 80.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,448 shares in the last quarter. Exane Derivatives purchased a new stake in E*TRADE Financial Corporation in the 2nd quarter worth approximately $130,000. Meeder Asset Management Inc. lifted its stake in E*TRADE Financial Corporation by 163.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 3,513 shares in the last quarter. Eagle Global Advisors LLC purchased a new stake in E*TRADE Financial Corporation in the 2nd quarter worth approximately $221,000. Finally, Candriam Luxembourg S.C.A. purchased a new stake in E*TRADE Financial Corporation in the 2nd quarter worth approximately $226,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

E*TRADE Financial Corporation (ETFC) opened at 41.06 on Friday. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 19.19 and a beta of 1.46. The company’s 50 day moving average is $40.61 and its 200 day moving average is $37.14. E*TRADE Financial Corporation has a 12-month low of $27.34 and a 12-month high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the 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 company had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. E*TRADE Financial Corporation’s quarterly revenue was up 21.7% on a year-over-year basis. Analysts forecast that E*TRADE Financial Corporation will post $2.26 earnings per share for the current fiscal year.

E*TRADE Financial Corporation announced that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

ETFC has been the topic of several recent analyst reports. UBS AG reiterated a “buy” rating and issued a $43.00 target price on shares of E*TRADE Financial Corporation in a research note on Thursday, May 25th. Deutsche Bank AG increased their target price on shares of E*TRADE Financial Corporation from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Zacks Investment Research raised shares of E*TRADE Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday, June 21st. SunTrust Banks, Inc. increased their price target on shares of E*TRADE Financial Corporation from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, June 16th. Finally, Rosenblatt Securities started coverage on shares of E*TRADE Financial Corporation in a report on Thursday, July 13th. They issued a “buy” rating and a $43.00 price target on the stock. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.61.

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In related news, CEO Karl A. Roessner sold 14,898 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 value of $587,130.18. Following the sale, the chief executive officer now owns 232,702 shares in the company, valued at $9,170,785.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total transaction of $236,384.00. Following the completion of the sale, the insider now owns 31,557 shares in the company, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. Insiders sold 72,623 shares of company stock worth $2,915,711 in the last 90 days. 0.17% of the stock is currently owned by company insiders.

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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