Principal Financial Group Inc. reduced its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 2.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 420,260 shares of the financial services provider’s stock after selling 10,665 shares during the period. Principal Financial Group Inc. owned 0.15% of E*TRADE Financial Corporation worth $15,982,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ETFC. DekaBank Deutsche Girozentrale lifted its holdings in shares of E*TRADE Financial Corporation by 120.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,257 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 11,051 shares during the last quarter. Comerica Bank lifted its holdings in shares of E*TRADE Financial Corporation by 6.3% in the 1st quarter. Comerica Bank now owns 90,087 shares of the financial services provider’s stock valued at $3,140,000 after purchasing an additional 5,327 shares during the last quarter. World Asset Management Inc lifted its holdings in shares of E*TRADE Financial Corporation by 11.1% in the 1st quarter. World Asset Management Inc now owns 27,198 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 2,710 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of E*TRADE Financial Corporation by 8.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 684,806 shares of the financial services provider’s stock valued at $23,893,000 after purchasing an additional 51,389 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of E*TRADE Financial Corporation in the 1st quarter valued at about $4,105,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 41.06 on Monday. The company has a 50 day moving average price of $40.61 and a 200-day moving average price of $37.14. E*TRADE Financial Corporation has a 12-month low of $27.33 and a 12-month high of $42.19. The firm has a market cap of $11.31 billion, a PE ratio of 19.19 and a beta of 1.46.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The company had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. Analysts expect that E*TRADE Financial Corporation will post $2.26 EPS for the current year.

E*TRADE Financial Corporation announced that its board has authorized a share buyback plan 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

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In other news, insider Michael John Curcio sold 33,474 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $40.38, for a total transaction of $1,351,680.12. Following the sale, the insider now owns 267,151 shares of the company’s stock, valued at $10,787,557.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Karl A. Roessner sold 14,898 shares of E*TRADE Financial Corporation stock in a transaction that occurred 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 directly owns 232,702 shares in the company, valued at approximately $9,170,785.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,623 shares of company stock worth $2,915,711. Corporate insiders own 0.17% of the company’s stock.

Several equities analysts recently issued reports on the company. Jefferies Group LLC restated a “hold” rating on shares of E*TRADE Financial Corporation in a research report on Monday, July 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a research report on Friday, July 14th. UBS AG restated a “buy” rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a research report on Thursday, May 25th. Rosenblatt Securities assumed coverage on E*TRADE Financial Corporation in a research report on Thursday, July 13th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, BidaskClub cut E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $41.61.

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)

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