E*TRADE Financial Corp (ETFC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,021 shares of the financial services provider’s stock after selling 22,091 shares during the quarter. AQR Capital Management LLC’s holdings in E*TRADE Financial were worth $4,245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC boosted its position in E*TRADE Financial by 18.0% during the second quarter. Flagship Harbor Advisors LLC now owns 6,273 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 958 shares during the period. Commerce Bank boosted its position in E*TRADE Financial by 6.2% during the third quarter. Commerce Bank now owns 18,396 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 1,075 shares during the period. Parallel Advisors LLC boosted its position in E*TRADE Financial by 64.1% during the third quarter. Parallel Advisors LLC now owns 2,755 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 1,076 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in E*TRADE Financial by 2.5% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 45,052 shares of the financial services provider’s stock worth $2,360,000 after purchasing an additional 1,096 shares during the period. Finally, Greenwood Capital Associates LLC boosted its position in E*TRADE Financial by 21.2% during the third quarter. Greenwood Capital Associates LLC now owns 8,025 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 1,405 shares during the period. 93.96% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have commented on ETFC. Wolfe Research began coverage on shares of E*TRADE Financial in a research report on Tuesday, September 25th. They set a “market perform” rating for the company. Zacks Investment Research raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, September 25th. Jefferies Financial Group raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Wednesday, September 19th. They noted that the move was a valuation call. BidaskClub downgraded E*TRADE Financial from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Finally, Bank of America dropped their target price on E*TRADE Financial from $67.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $62.24.

In related news, Director James P. Healy purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 11th. The stock was acquired at an average price of $45.36 per share, with a total value of $226,800.00. Following the completion of the purchase, the director now directly owns 49,735 shares in the company, valued at $2,255,979.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua Weinreich purchased 5,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average cost of $52.33 per share, with a total value of $299,589.25. Following the purchase, the director now owns 7,318 shares of the company’s stock, valued at $382,950.94. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 37,668 shares of company stock valued at $1,912,154. 0.12% of the stock is owned by insiders.

ETFC opened at $47.66 on Friday. The firm has a market cap of $11.51 billion, a PE ratio of 21.76, a PEG ratio of 0.64 and a beta of 1.19. E*TRADE Financial Corp has a fifty-two week low of $40.41 and a fifty-two week high of $66.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.17. The business had revenue of $720.00 million during the quarter, compared to the consensus estimate of $710.62 million. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. E*TRADE Financial’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, sell-side analysts predict that E*TRADE Financial Corp will post 3.85 EPS for the current year.

E*TRADE Financial declared that its board has approved a share buyback plan on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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E*TRADE Financial Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.

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

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