Great West Life Assurance Co. Can reduced its stake in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 11.3% during the second quarter, Holdings Channel reports. The institutional investor owned 205,124 shares of the financial services provider’s stock after selling 26,252 shares during the period. Great West Life Assurance Co. Can’s holdings in E*TRADE Financial Corporation were worth $7,796,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of ETFC. State of Alaska Department of Revenue acquired a new stake in E*TRADE Financial Corporation during the first quarter valued at about $357,000. Boston Partners boosted its stake in E*TRADE Financial Corporation by 118.2% in the first quarter. Boston Partners now owns 241,034 shares of the financial services provider’s stock valued at $8,410,000 after buying an additional 130,552 shares during the period. Bank of Nova Scotia boosted its stake in E*TRADE Financial Corporation by 71.8% in the first quarter. Bank of Nova Scotia now owns 614,202 shares of the financial services provider’s stock valued at $21,430,000 after buying an additional 256,788 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in E*TRADE Financial Corporation by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 236,789 shares of the financial services provider’s stock valued at $8,262,000 after buying an additional 7,438 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its stake in E*TRADE Financial Corporation by 304.8% in the first quarter. Aberdeen Asset Management PLC UK now owns 264,548 shares of the financial services provider’s stock valued at $9,230,000 after buying an additional 199,191 shares during the period. 93.19% of the stock is owned by hedge funds and other institutional investors.

E*TRADE Financial Corporation (ETFC) opened at 40.07 on Friday. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 18.72 and a beta of 1.48. The company has a 50-day moving average price of $39.68 and a 200-day moving average price of $36.48. E*TRADE Financial Corporation has a 12-month low of $24.85 and a 12-month high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $577 million during the quarter, compared to the consensus estimate of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. On average, equities research analysts forecast that E*TRADE Financial Corporation will post $2.26 earnings per share for the current year.

E*TRADE Financial Corporation declared that its board has authorized a share repurchase plan on Thursday, July 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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Several equities research analysts have issued reports on ETFC shares. Instinet reissued a “buy” rating and set a $47.00 target price (up previously from $44.00) on shares of E*TRADE Financial Corporation in a research note on Saturday, July 22nd. Zacks Investment Research raised E*TRADE Financial Corporation from a “sell” rating to a “hold” rating in a research note on Monday, April 24th. Morgan Stanley reissued an “equal weight” rating and set a $40.00 target price (up previously from $38.00) on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Deutsche Bank AG reissued a “buy” rating on shares of E*TRADE Financial Corporation in a research note on Friday, July 14th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $41.00 target price on shares of E*TRADE Financial Corporation in a research note on Friday, April 21st. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.94.

In other news, Director James P. Healy acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was bought at an average cost of $41.97 per share, with a total value of $209,850.00. Following the transaction, the director now directly owns 40,792 shares in the company, valued at approximately $1,712,040.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brent Simonich sold 5,696 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total transaction of $236,384.00. Following the completion of the transaction, the insider now directly owns 31,557 shares of the company’s stock, valued at $1,309,615.50. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

E*TRADE Financial Corporation Company Profile

E*Trade Financial Corporation is a financial services company. The Company provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.

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

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