Rothschild & Co. Asset Management US Inc. Reduces Stock Holdings in E*TRADE Financial Corp (NASDAQ:ETFC)

Rothschild & Co. Asset Management US Inc. decreased its holdings in E*TRADE Financial Corp (NASDAQ:ETFC) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 982,285 shares of the financial services provider’s stock after selling 64,617 shares during the quarter. Rothschild & Co. Asset Management US Inc.’s holdings in E*TRADE Financial were worth $43,810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in ETFC. Dimensional Fund Advisors LP grew its position in E*TRADE Financial by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,046 shares of the financial services provider’s stock valued at $79,688,000 after buying an additional 23,774 shares during the period. Geode Capital Management LLC grew its position in E*TRADE Financial by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,424,703 shares of the financial services provider’s stock valued at $150,020,000 after buying an additional 23,931 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in E*TRADE Financial during the fourth quarter valued at about $312,000. APG Asset Management N.V. bought a new position in E*TRADE Financial during the fourth quarter valued at about $745,000. Finally, First Hawaiian Bank grew its position in E*TRADE Financial by 71.1% during the first quarter. First Hawaiian Bank now owns 6,447 shares of the financial services provider’s stock valued at $299,000 after buying an additional 2,680 shares during the period. 91.56% of the stock is owned by institutional investors.

NASDAQ ETFC traded down $3.28 on Monday, reaching $42.80. 165,743 shares of the company’s stock traded hands, compared to its average volume of 2,717,729. E*TRADE Financial Corp has a 12 month low of $40.41 and a 12 month high of $61.87. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $46.35. The firm has a market cap of $11.08 billion, a PE ratio of 11.01, a PEG ratio of 1.01 and a beta of 1.15.

E*TRADE Financial (NASDAQ:ETFC) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The firm had revenue of $685.00 million for the quarter, compared to analysts’ expectations of $751.35 million. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. On average, equities analysts predict that E*TRADE Financial Corp will post 4.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 19th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, August 16th. E*TRADE Financial’s dividend payout ratio (DPR) is currently 14.40%.

E*TRADE Financial declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 18th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of E*TRADE Financial from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Deutsche Bank set a $52.00 price objective on shares of E*TRADE Financial and gave the company a “buy” rating in a report on Friday, July 19th. JMP Securities upped their price objective on shares of E*TRADE Financial to $63.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Credit Suisse Group set a $57.00 price objective on shares of E*TRADE Financial and gave the company a “buy” rating in a report on Friday, July 19th. Finally, BidaskClub raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. E*TRADE Financial currently has a consensus rating of “Buy” and a consensus price target of $56.79.

In related news, Director Rodger A. Lawson sold 41,322 shares of E*TRADE Financial stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.13, for a total value of $1,988,827.86. Following the sale, the director now owns 114,753 shares in the company, valued at $5,523,061.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.

See Also: Oversold

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

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