Pinebridge Investments L.P. trimmed its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 11.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 359,229 shares of the financial services provider’s stock after selling 46,160 shares during the period. Pinebridge Investments L.P. owned approximately 0.13% of E*TRADE Financial Corporation worth $13,662,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 1,019,443 shares in the last quarter. BlackRock Inc. lifted its holdings 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 purchasing an additional 17,562,024 shares in the last quarter. Primecap Management Co. CA lifted its holdings 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 purchasing an additional 598,400 shares in the last quarter. State Street Corp lifted its holdings 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 purchasing an additional 221,060 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of E*TRADE Financial Corporation by 25.3% in the second quarter. Victory Capital Management Inc. now owns 7,845,331 shares of the financial services provider’s stock valued at $298,357,000 after purchasing an additional 1,586,062 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

In related news, Director James P. Healy purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were bought at an average price of $41.97 per share, with a total value of $209,850.00. Following the acquisition, the director now owns 40,792 shares of the company’s stock, valued at approximately $1,712,040.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brent Simonich sold 5,696 shares of E*TRADE Financial Corporation stock in a transaction that occurred 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 directly owns 31,557 shares in the company, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,623 shares of company stock worth $2,915,711. Insiders own 0.17% of the company’s stock.

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Shares of E*TRADE Financial Corporation (NASDAQ ETFC) traded up 0.94% during trading on Tuesday, reaching $41.85. The company’s stock had a trading volume of 1,552,018 shares. 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 $11.53 billion, a PE ratio of 19.56 and a beta of 1.46. The stock’s 50 day moving average price is $40.62 and its 200-day moving average price is $37.21.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same quarter last year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities analysts predict that E*TRADE Financial Corporation will post $2.26 EPS for the current year.

E*TRADE Financial Corporation announced that its board has approved a share repurchase program on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

A number of analysts have recently commented on the company. UBS AG restated a “buy” rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a report on Thursday, May 25th. SunTrust Banks, Inc. restated a “buy” rating and issued a $50.00 price target on shares of E*TRADE Financial Corporation in a report on Monday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a report on Friday, July 14th. Rosenblatt Securities started coverage on 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. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of E*TRADE Financial Corporation in a report on Monday, July 10th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. E*TRADE Financial Corporation has a consensus rating of “Buy” and an average price target of $42.00.

E*TRADE Financial Corporation 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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