10,344 Shares in E*TRADE Financial Corp (NASDAQ:ETFC) Acquired by SRB Corp

SRB Corp bought a new stake in E*TRADE Financial Corp (NASDAQ:ETFC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,344 shares of the financial services provider’s stock, valued at approximately $461,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP increased its holdings in E*TRADE Financial by 4.6% in the 2nd quarter. GSA Capital Partners LLP now owns 5,424 shares of the financial services provider’s stock valued at $242,000 after buying an additional 237 shares during the period. ETF Managers Group LLC increased its stake in E*TRADE Financial by 11.3% during the 1st quarter. ETF Managers Group LLC now owns 2,587 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 262 shares in the last quarter. FDx Advisors Inc. grew its stake in shares of E*TRADE Financial by 3.9% during the 2nd quarter. FDx Advisors Inc. now owns 7,032 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 267 shares in the last quarter. First Republic Investment Management Inc. grew its stake in shares of E*TRADE Financial by 2.6% during the 2nd quarter. First Republic Investment Management Inc. now owns 10,981 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 277 shares in the last quarter. Finally, Psagot Investment House Ltd. boosted its holdings in shares of E*TRADE Financial by 6.9% in the 2nd quarter. Psagot Investment House Ltd. now owns 6,575 shares of the financial services provider’s stock valued at $293,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 90.33% of the company’s stock.

In related news, EVP Michael John Curcio sold 53,584 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $45.18, for a total transaction of $2,420,925.12. Following the completion of the sale, the executive vice president now owns 149,159 shares in the company, valued at $6,739,003.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rodger A. Lawson sold 5,109 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $45.18, for a total value of $230,824.62. Following the sale, the director now owns 113,739 shares of the company’s stock, valued at approximately $5,138,728.02. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

A number of research firms have issued reports on ETFC. Zacks Investment Research cut E*TRADE Financial from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Compass Point set a $52.00 price target on E*TRADE Financial and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Deutsche Bank cut their price objective on E*TRADE Financial from $45.00 to $43.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Barclays lifted their price objective on E*TRADE Financial from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Credit Suisse Group set a $57.00 price objective on E*TRADE Financial and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. E*TRADE Financial currently has a consensus rating of “Buy” and a consensus target price of $55.46.

ETFC traded down $0.73 during trading on Tuesday, hitting $45.13. The company’s stock had a trading volume of 124,534 shares, compared to its average volume of 2,661,251. E*TRADE Financial Corp has a twelve month low of $39.31 and a twelve month high of $56.44. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average price is $43.05 and its 200-day moving average price is $46.44. The firm has a market capitalization of $11.09 billion, a P/E ratio of 11.60, a PEG ratio of 0.96 and a beta of 1.20.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The firm had revenue of $685.00 million for the quarter, compared to analyst estimates of $751.35 million. E*TRADE Financial had a return on equity of 18.44% and a net margin of 36.75%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities research analysts expect that E*TRADE Financial Corp will post 4.31 EPS for the current fiscal year.

E*TRADE Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, July 18th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, August 16th. This represents a $0.56 annualized dividend and a dividend yield of 1.24%. E*TRADE Financial’s dividend payout ratio is 14.40%.

E*TRADE Financial Profile

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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