E*TRADE Financial Corporation (ETFC) Position Trimmed by Laurion Capital Management LP

Laurion Capital Management LP reduced its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 547,052 shares of the financial services provider’s stock after selling 49,317 shares during the period. Laurion Capital Management LP owned about 0.20% of E*TRADE Financial Corporation worth $20,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aviva PLC raised its holdings in 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 worth $6,849,000 after acquiring an additional 10,334 shares during the last quarter. Bank of Nova Scotia raised its holdings in 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 worth $21,430,000 after acquiring an additional 256,788 shares during the last quarter. Artemis Investment Management LLP purchased a new position in E*TRADE Financial Corporation in the 2nd quarter worth approximately $3,424,000. Aberdeen Asset Management PLC UK raised its holdings in E*TRADE Financial Corporation by 304.8% in the 1st quarter. Aberdeen Asset Management PLC UK now owns 264,548 shares of the financial services provider’s stock worth $9,230,000 after acquiring an additional 199,191 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in E*TRADE Financial Corporation by 31.6% in the 1st quarter. Sei Investments Co. now owns 246,309 shares of the financial services provider’s stock worth $8,593,000 after acquiring an additional 59,094 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

In related news, insider Brent Simonich sold 5,696 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total transaction of $236,384.00. Following the completion of the transaction, the insider now owns 31,557 shares of the company’s stock, valued at $1,309,615.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael A. Pizzi sold 9,977 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 110,142 shares of the company’s stock, valued at approximately $4,340,696.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,623 shares of company stock valued at $2,915,711. 0.17% of the stock is currently owned by corporate insiders.

Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) traded up 0.83% during midday trading on Friday, hitting $41.06. 3,594,233 shares of the stock were exchanged. E*TRADE Financial Corporation has a 12 month low of $27.34 and a 12 month high of $42.19. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 19.19 and a beta of 1.46. The firm’s 50-day moving average is $40.61 and its 200-day moving average is $37.14.

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 (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 during the quarter, compared to analysts’ expectations of $553.31 million. During the same quarter last year, the company posted $0.48 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts predict that E*TRADE Financial Corporation will post $2.26 earnings per share for the current year.

E*TRADE Financial Corporation declared that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of equities analysts recently weighed in on ETFC shares. Deutsche Bank AG decreased their price objective on shares of E*TRADE Financial Corporation from $40.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, July 4th. Jefferies Group LLC restated a “hold” rating and issued a $43.00 price objective (up from $39.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Wells Fargo & Company restated an “outperform” rating and issued a $41.00 price objective (up from $40.00) on shares of E*TRADE Financial Corporation in a report on Monday, June 12th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 price objective on shares of E*TRADE Financial Corporation in a report on Friday, July 21st. Finally, SunTrust Banks, Inc. boosted their price objective 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. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. E*TRADE Financial Corporation presently has a consensus rating of “Buy” and an average target price of $41.61.

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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.

Institutional Ownership by Quarter for E*TRADE Financial Corporation (NASDAQ:ETFC)

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