Legal & General Group Plc Grows Holdings in E*TRADE Financial Corp (NASDAQ:ETFC)

Legal & General Group Plc lifted its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 5.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,178,446 shares of the financial services provider’s stock after purchasing an additional 59,547 shares during the period. Legal & General Group Plc owned 0.46% of E*TRADE Financial worth $51,710,000 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 business. Bronfman E.L. Rothschild L.P. boosted its stake in shares of E*TRADE Financial by 32.0% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 915 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 222 shares during the period. ETF Managers Group LLC lifted its holdings in E*TRADE Financial by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 2,325 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 315 shares during the last quarter. CWM LLC lifted its holdings in E*TRADE Financial by 41.0% during the 4th quarter. CWM LLC now owns 1,500 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 436 shares during the last quarter. IFP Advisors Inc lifted its holdings in E*TRADE Financial by 93.0% during the 4th quarter. IFP Advisors Inc now owns 965 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 465 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its holdings in E*TRADE Financial by 100.0% during the 4th quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 500 shares during the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

ETFC stock traded up $1.17 during trading on Friday, reaching $51.14. 5,335,105 shares of the stock were exchanged, compared to its average volume of 2,257,948. E*TRADE Financial Corp has a twelve month low of $40.41 and a twelve month high of $66.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.24. The company has a market cap of $12.54 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.11 and a beta of 1.14.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.16. The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $738.04 million. E*TRADE Financial had a return on equity of 18.06% and a net margin of 37.50%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. Equities analysts predict that E*TRADE Financial Corp will post 4.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, May 10th. E*TRADE Financial’s dividend payout ratio (DPR) is presently 14.40%.

In other E*TRADE Financial news, EVP Michael John Curcio sold 21,928 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $47.36, for a total transaction of $1,038,510.08. Following the completion of the transaction, the executive vice president now directly owns 213,896 shares of the company’s stock, valued at $10,130,114.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert J. Chersi purchased 2,200 shares of the business’s stock in a transaction dated Wednesday, January 30th. The stock was bought at an average cost of $46.24 per share, with a total value of $101,728.00. Following the completion of the acquisition, the director now directly owns 3,253 shares of the company’s stock, valued at $150,418.72. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Several brokerages have weighed in on ETFC. Zacks Investment Research cut E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Barclays boosted their price target on E*TRADE Financial to $55.00 and gave the stock an “overweight” rating in a report on Friday, January 25th. ValuEngine raised E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. UBS Group cut E*TRADE Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $58.00 to $51.00 in a report on Wednesday, February 20th. Finally, BidaskClub upgraded E*TRADE Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. E*TRADE Financial has a consensus rating of “Buy” and an average target price of $59.92.

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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.

Further Reading: Coverage Ratio

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

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