FIL Ltd Lowers Stake in E*TRADE Financial Corp (NASDAQ:ETFC)

FIL Ltd reduced its position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 6.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 243,341 shares of the financial services provider’s stock after selling 17,219 shares during the quarter. FIL Ltd’s holdings in E*TRADE Financial were worth $11,298,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Two Sigma Advisers LP purchased a new stake in E*TRADE Financial in the fourth quarter worth $15,197,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of E*TRADE Financial during the fourth quarter valued at $506,000. FTB Advisors Inc. purchased a new position in shares of E*TRADE Financial during the fourth quarter valued at $113,000. AGF Investments Inc. increased its stake in shares of E*TRADE Financial by 31.5% during the fourth quarter. AGF Investments Inc. now owns 1,780,778 shares of the financial services provider’s stock valued at $78,141,000 after buying an additional 426,628 shares during the period. Finally, Cito Capital Group LLC increased its stake in shares of E*TRADE Financial by 1.1% during the fourth quarter. Cito Capital Group LLC now owns 95,200 shares of the financial services provider’s stock valued at $4,177,000 after buying an additional 1,000 shares during the period. Institutional investors own 91.48% of the company’s stock.

Shares of ETFC stock opened at $46.64 on Wednesday. E*TRADE Financial Corp has a 1-year low of $40.41 and a 1-year high of $65.79. The stock has a market cap of $11.27 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.97 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.24 and a current ratio of 0.24.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.16. E*TRADE Financial had a return on equity of 18.06% and a net margin of 37.50%. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $738.04 million. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that E*TRADE Financial Corp will post 4.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, May 10th. E*TRADE Financial’s payout ratio is currently 14.40%.

ETFC has been the topic of several research reports. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Thursday, May 9th. BidaskClub upgraded E*TRADE Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. UBS Group lowered E*TRADE Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $58.00 to $51.00 in a research note on Wednesday, February 20th. Finally, Morgan Stanley raised their price target on E*TRADE Financial from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. E*TRADE Financial has a consensus rating of “Buy” and an average price target of $58.45.

In related news, Director Rodger A. Lawson sold 41,322 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the sale, the director now owns 114,753 shares of the company’s stock, valued at $5,523,061.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

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About E*TRADE Financial

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.

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

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