TIAA CREF Investment Management LLC lifted its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,053,621 shares of the financial services provider’s stock after acquiring an additional 166,595 shares during the period. TIAA CREF Investment Management LLC owned 1.83% of E*TRADE Financial Corporation worth $192,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the company. Independent Portfolio Consultants Inc. boosted its stake in shares of E*TRADE Financial Corporation by 0.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,021 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 26 shares during the last quarter. Cleararc Capital Inc. boosted its stake in shares of E*TRADE Financial Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 6,698 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 29 shares during the last quarter. ING Groep NV boosted its stake in shares of E*TRADE Financial Corporation by 0.4% in the second quarter. ING Groep NV now owns 14,056 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 51 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of E*TRADE Financial Corporation by 0.3% in the second quarter. Wedge Capital Management L L P NC now owns 23,923 shares of the financial services provider’s stock worth $910,000 after acquiring an additional 62 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of E*TRADE Financial Corporation by 0.3% in the first quarter. Mackenzie Financial Corp now owns 33,335 shares of the financial services provider’s stock worth $1,163,000 after acquiring an additional 88 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

E*TRADE Financial Corporation (ETFC) traded down 0.626% on Wednesday, reaching $40.495. The company had a trading volume of 330,138 shares. The stock has a market capitalization of $11.15 billion, a P/E ratio of 18.923 and a beta of 1.46. E*TRADE Financial Corporation has a 12 month low of $26.34 and a 12 month high of $42.19. The firm has a 50-day moving average of $40.67 and a 200-day moving average of $37.03.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The company had revenue of $577.00 million for the quarter, compared to analyst estimates of $553.31 million. During the same period last year, the company posted $0.48 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts expect that E*TRADE Financial Corporation will post $2.26 earnings per share for the current fiscal year.

E*TRADE Financial Corporation announced that its Board of Directors has authorized a stock repurchase plan on Thursday, July 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other E*TRADE Financial Corporation news, insider Brent Simonich sold 5,696 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total value of $236,384.00. Following the transaction, the insider now directly owns 31,557 shares of the company’s stock, valued at $1,309,615.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael A. Pizzi sold 9,977 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $39.41, for a total value of $393,193.57. Following the completion of the transaction, the chief financial officer now directly owns 110,142 shares in the company, valued at $4,340,696.22. The disclosure for this sale can be found here. Insiders sold 30,571 shares of company stock worth $1,216,708 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

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A number of equities analysts recently commented on ETFC shares. Deutsche Bank AG reduced their price objective on E*TRADE Financial Corporation from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC reiterated a “hold” rating and set a $43.00 price objective (up previously from $39.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Wells Fargo & Company reiterated an “outperform” rating and set a $41.00 price objective (up previously from $40.00) on shares of E*TRADE Financial Corporation in a research report on Monday, June 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.00 price objective on shares of E*TRADE Financial Corporation in a research report on Friday, July 21st. Finally, SunTrust Banks, Inc. lifted their price objective on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $41.61.

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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