Profund Advisors LLC raised its stake in E*TRADE Financial Corporation (NASDAQ:ETFC) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,684 shares of the financial services provider’s stock after purchasing an additional 10,559 shares during the period. Profund Advisors LLC’s holdings in E*TRADE Financial Corporation were worth $2,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ETFC. Advisors Asset Management Inc. increased its stake in E*TRADE Financial Corporation by 80.8% in the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 1,448 shares in the last quarter. Exane Derivatives bought a new stake in shares of E*TRADE Financial Corporation during the second quarter worth about $130,000. Financial Counselors Inc. bought a new stake in shares of E*TRADE Financial Corporation during the second quarter worth about $203,000. Meeder Asset Management Inc. increased its position in shares of E*TRADE Financial Corporation by 163.9% during the second quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 3,513 shares in the last quarter. Finally, Eagle Global Advisors LLC bought a new stake in shares of E*TRADE Financial Corporation during the second quarter worth about $221,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

E*TRADE Financial Corporation (NASDAQ ETFC) traded up 0.83% on Friday, reaching $41.06. 3,594,233 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $40.61 and its 200 day moving average price is $37.14. The company has a market cap of $11.31 billion, a PE ratio of 19.19 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.

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

E*TRADE Financial Corporation announced that its Board of Directors has approved a share repurchase program on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

ETFC has been the subject of several recent research reports. Instinet reissued a “buy” rating and set a $47.00 target price (up from $44.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Morgan Stanley reissued an “equal weight” rating and set a $40.00 target price (up from $38.00) on shares of E*TRADE Financial Corporation in a research report on Monday, July 10th. Deutsche Bank AG reissued a “buy” rating on shares of E*TRADE Financial Corporation in a research report on Friday, July 14th. Bank of America Corporation boosted their target price on shares of E*TRADE Financial Corporation from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $41.00 target price (up from $40.00) on shares of E*TRADE Financial Corporation in a research report on Monday, June 12th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. E*TRADE Financial Corporation currently has an average rating of “Buy” and an average target price of $41.61.

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In other news, insider Brent Simonich sold 5,696 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the completion of the sale, the insider now directly owns 31,557 shares in the company, valued at $1,309,615.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael John Curcio sold 33,474 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $40.38, for a total transaction 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 $10,787,557.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,623 shares of company stock valued at $2,915,711. 0.17% of the stock is owned by company insiders.

E*TRADE Financial Corporation 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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