Symphony Asset Management LLC lifted its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,317 shares of the financial services provider’s stock after acquiring an additional 395 shares during the period. Symphony Asset Management LLC’s holdings in E*TRADE Financial Corporation were worth $468,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ETFC. BlackRock Inc. increased its position in shares of E*TRADE Financial Corporation by 2,903.3% in the first quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock worth $633,844,000 after acquiring an additional 17,562,024 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of E*TRADE Financial Corporation by 79.2% in the first quarter. Victory Capital Management Inc. now owns 6,259,269 shares of the financial services provider’s stock worth $218,385,000 after acquiring an additional 2,766,050 shares in the last quarter. Westpac Banking Corp increased its position in shares of E*TRADE Financial Corporation by 11,248.8% in the first quarter. Westpac Banking Corp now owns 2,522,959 shares of the financial services provider’s stock worth $96,538,000 after acquiring an additional 2,500,728 shares in the last quarter. Morgan Stanley increased its position in shares of E*TRADE Financial Corporation by 272.0% in the first quarter. Morgan Stanley now owns 2,678,103 shares of the financial services provider’s stock worth $93,438,000 after acquiring an additional 1,958,159 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of E*TRADE Financial Corporation by 39.5% in the first quarter. TIAA CREF Investment Management LLC now owns 4,887,026 shares of the financial services provider’s stock worth $170,508,000 after acquiring an additional 1,384,420 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 40.73 on Friday. The firm has a market capitalization of $11.22 billion, a PE ratio of 19.03 and a beta of 1.46. E*TRADE Financial Corporation has a 52 week low of $27.34 and a 52 week high of $42.19. The stock has a 50 day moving average of $40.60 and a 200-day moving average of $37.11.

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. The company had revenue of $577.00 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 revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. Equities analysts anticipate 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 initiated 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 buy up to 9.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Several research firms recently commented on ETFC. UBS AG restated a “buy” rating and set a $43.00 price target on shares of E*TRADE Financial Corporation in a report on Thursday, May 25th. Barclays PLC began coverage on shares of E*TRADE Financial Corporation in a report on Friday, September 8th. They set an “overweight” rating and a $45.00 price target for the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price target on shares of E*TRADE Financial Corporation in a report on Friday, July 14th. Rosenblatt Securities began coverage on shares of E*TRADE Financial Corporation in a report on Thursday, July 13th. They set a “buy” rating and a $43.00 price target for the company. Finally, Jefferies Group LLC restated a “hold” rating on shares of E*TRADE Financial Corporation in a report on Monday, July 10th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.61.

ILLEGAL ACTIVITY NOTICE: “Symphony Asset Management LLC Has $468,000 Stake in E*TRADE Financial Corporation (ETFC)” was reported by Daily Political and is owned by of Daily Political. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.dailypolitical.com/2017/09/15/symphony-asset-management-llc-has-468000-stake-in-etrade-financial-corporation-etfc.html.

In other news, insider Michael John Curcio sold 33,474 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $40.38, for a total value of $1,351,680.12. Following the completion of the sale, the insider now owns 267,151 shares of the company’s stock, valued at approximately $10,787,557.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James P. Healy acquired 5,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 40,792 shares in the company, valued at approximately $1,712,040.24. The disclosure for this purchase can be found here. In the last three months, insiders sold 72,623 shares of company stock valued at $2,915,711. 0.17% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding ETFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for E*TRADE Financial Corporation (NASDAQ:ETFC).

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

Receive News & Ratings for E*TRADE Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.