ProShare Advisors LLC grew its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,958 shares of the financial services provider’s stock after buying an additional 632 shares during the quarter. ProShare Advisors LLC’s holdings in E*TRADE Financial Corporation were worth $4,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Independent Portfolio Consultants Inc. grew 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 valued at $229,000 after buying an additional 26 shares in the last quarter. Cleararc Capital Inc. grew its stake in E*TRADE Financial Corporation by 0.4% during the 1st quarter. Cleararc Capital Inc. now owns 6,698 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 29 shares in the last quarter. ING Groep NV grew its stake in E*TRADE Financial Corporation by 0.4% during the 2nd quarter. ING Groep NV now owns 14,056 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 51 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in E*TRADE Financial Corporation by 0.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 23,923 shares of the financial services provider’s stock worth $910,000 after purchasing an additional 62 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in E*TRADE Financial Corporation by 0.3% during the 1st quarter. Mackenzie Financial Corp now owns 33,335 shares of the financial services provider’s stock worth $1,163,000 after purchasing an additional 88 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

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ETFC has been the subject of several analyst reports. UBS AG reissued a “buy” rating and set a $43.00 target price on shares of E*TRADE Financial Corporation in a research note on Thursday, May 25th. Deutsche Bank AG boosted their target price on E*TRADE Financial Corporation from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Zacks Investment Research raised E*TRADE Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday, June 21st. SunTrust Banks, Inc. boosted their target price on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Finally, Rosenblatt Securities initiated coverage on E*TRADE Financial Corporation in a research note on Thursday, July 13th. They set a “buy” rating and a $43.00 target price for the company. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $42.53.

Shares of E*TRADE Financial Corporation (ETFC) opened at 41.78 on Friday. The stock has a market capitalization of $11.51 billion, a P/E ratio of 19.52 and a beta of 1.46. E*TRADE Financial Corporation has a 12-month low of $27.33 and a 12-month high of $42.19. The stock has a 50 day moving average price of $40.64 and a 200 day moving average price of $37.26.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share 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 company’s revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. On average, equities analysts anticipate that E*TRADE Financial Corporation will post $2.26 earnings per share for the current fiscal year.

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

In other E*TRADE Financial Corporation news, Director James P. Healy bought 5,000 shares of the stock in a transaction dated Tuesday, July 25th. The stock was bought at an average cost of $41.97 per share, for a total transaction of $209,850.00. Following the completion of the purchase, the director now directly owns 40,792 shares of the company’s stock, valued at $1,712,040.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brent Simonich sold 5,696 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the sale, the insider now owns 31,557 shares of the company’s stock, valued at $1,309,615.50. The disclosure for this sale can be found here. Insiders have sold 72,623 shares of company stock valued at $2,915,711 over the last 90 days. Insiders own 0.17% of the company’s stock.

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.

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

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