Ontario Teachers Pension Plan Board cut its stake in E*TRADE Financial Corporation (NASDAQ:ETFC) by 46.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,736 shares of the financial services provider’s stock after selling 8,507 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in E*TRADE Financial Corporation were worth $370,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Aviva PLC increased its holdings in shares of E*TRADE Financial Corporation by 6.1% in the 2nd quarter. Aviva PLC now owns 179,995 shares of the financial services provider’s stock valued at $6,849,000 after acquiring an additional 10,334 shares during the period. Bank of Nova Scotia increased its holdings in shares of E*TRADE Financial Corporation by 71.8% in the 1st quarter. Bank of Nova Scotia now owns 614,202 shares of the financial services provider’s stock valued at $21,430,000 after acquiring an additional 256,788 shares during the period. Artemis Investment Management LLP purchased a new position in shares of E*TRADE Financial Corporation in the 2nd quarter valued at $3,424,000. Burney Co. increased its holdings in shares of E*TRADE Financial Corporation by 3.7% in the 2nd quarter. Burney Co. now owns 71,205 shares of the financial services provider’s stock valued at $2,683,000 after acquiring an additional 2,563 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of E*TRADE Financial Corporation by 19.6% in the 2nd 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 acquiring an additional 11,170 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

ETFC has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an “outperform” rating and issued a $41.00 price target (up from $40.00) on shares of E*TRADE Financial Corporation in a report on Monday, June 12th. BidaskClub upgraded E*TRADE Financial Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. SunTrust Banks, Inc. boosted their target price on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Deutsche Bank AG dropped their target price on E*TRADE Financial Corporation from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “hold” rating on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. E*TRADE Financial Corporation presently has a consensus rating of “Buy” and an average price target of $43.27.

E*TRADE Financial Corporation (NASDAQ ETFC) opened at 44.25 on Thursday. The company has a 50-day moving average price of $41.28 and a 200 day moving average price of $37.84. E*TRADE Financial Corporation has a 12 month low of $27.33 and a 12 month high of $44.58. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 20.68 and a beta of 1.47.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released 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. The firm had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $553.31 million. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. E*TRADE Financial Corporation’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. Equities analysts predict that E*TRADE Financial Corporation will post $2.26 earnings per share for the current year.

E*TRADE Financial Corporation announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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In other E*TRADE Financial Corporation news, CEO Karl A. Roessner sold 8,578 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $40.49, for a total value of $347,323.22. Following the completion of the sale, the chief executive officer now directly owns 225,731 shares of the company’s stock, valued at approximately $9,139,848.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael A. Pizzi sold 9,977 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Friday, August 18th. The stock was 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 directly owns 110,142 shares of the company’s stock, valued at $4,340,696.22. The disclosure for this sale can be found here. Insiders sold a total of 72,623 shares of company stock valued at $2,915,711 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

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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