Zurich Insurance Group Ltd FI boosted its holdings in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 112.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,481 shares of the financial services provider’s stock after buying an additional 38,935 shares during the period. Zurich Insurance Group Ltd FI’s holdings in E*TRADE Financial Corporation were worth $2,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in E*TRADE Financial Corporation by 0.5% during the second quarter. Vanguard Group Inc. now owns 29,167,934 shares of the financial services provider’s stock worth $1,109,256,000 after buying an additional 157,269 shares during the last quarter. BlackRock Inc. raised its holdings in E*TRADE Financial Corporation by 2,903.3% during the first quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock worth $633,844,000 after buying an additional 17,562,024 shares during the last quarter. State Street Corp raised its holdings in E*TRADE Financial Corporation by 1.8% during the first quarter. State Street Corp now owns 12,755,327 shares of the financial services provider’s stock worth $445,031,000 after buying an additional 221,060 shares during the last quarter. FMR LLC raised its holdings in E*TRADE Financial Corporation by 24.3% during the second quarter. FMR LLC now owns 10,737,023 shares of the financial services provider’s stock worth $408,329,000 after buying an additional 2,096,445 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in E*TRADE Financial Corporation by 25.3% during the second quarter. Victory Capital Management Inc. now owns 7,845,331 shares of the financial services provider’s stock worth $298,357,000 after buying an additional 1,586,062 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price objective on shares of E*TRADE Financial Corporation in a report on Friday, July 14th. Rosenblatt Securities assumed coverage on shares of E*TRADE Financial Corporation in a report on Thursday, July 13th. They set a “buy” rating and a $43.00 price objective on the stock. Jefferies Group LLC restated a “hold” rating on shares of E*TRADE Financial Corporation in a report on Monday, July 10th. BidaskClub downgraded shares of E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 target price (up previously from $40.00) on shares of E*TRADE Financial Corporation in a report on Tuesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. E*TRADE Financial Corporation presently has an average rating of “Buy” and a consensus target price of $43.27.

In other E*TRADE Financial Corporation news, CFO Michael A. Pizzi sold 9,977 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $4,340,696.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the sale, the insider now owns 31,557 shares of the company’s stock, valued at $1,309,615.50. The disclosure for this sale can be found here. In the last three months, insiders sold 72,623 shares of company stock valued at $2,915,711. 0.17% of the stock is owned by insiders.

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E*TRADE Financial Corporation (NASDAQ:ETFC) opened at 44.395 on Thursday. The company’s 50-day moving average is $41.28 and its 200 day moving average is $37.84. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 20.745 and a beta of 1.47. E*TRADE Financial Corporation has a 52-week low of $27.34 and a 52-week high of $44.64.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The business had revenue of $577.00 million during the quarter, compared to analyst estimates of $553.31 million. During the same quarter in the previous year, the firm earned $0.48 EPS. E*TRADE Financial Corporation’s revenue was up 21.7% on a year-over-year basis. Equities analysts forecast that E*TRADE Financial Corporation will post $2.26 earnings per share for the current fiscal year.

E*TRADE Financial Corporation declared that its board has authorized a stock buyback program on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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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