Rafferty Asset Management LLC reduced its stake in E*TRADE Financial Corporation (NASDAQ:ETFC) by 19.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,857 shares of the financial services provider’s stock after selling 9,775 shares during the quarter. Rafferty Asset Management LLC’s holdings in E*TRADE Financial Corporation were worth $1,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of E*TRADE Financial Corporation by 2,903.3% during the 1st quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock valued at $633,844,000 after purchasing an additional 17,562,024 shares during the last quarter. BT Investment Management Ltd purchased a new stake in shares of E*TRADE Financial Corporation during the 2nd quarter valued at $97,155,000. Westpac Banking Corp increased its position in shares of E*TRADE Financial Corporation by 11,248.8% during the 1st quarter. Westpac Banking Corp now owns 2,522,959 shares of the financial services provider’s stock valued at $96,538,000 after purchasing an additional 2,500,728 shares during the last quarter. Morgan Stanley increased its position in shares of E*TRADE Financial Corporation by 272.0% during the 1st quarter. Morgan Stanley now owns 2,678,103 shares of the financial services provider’s stock valued at $93,438,000 after purchasing an additional 1,958,159 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of E*TRADE Financial Corporation by 25.3% during the 2nd quarter. Victory Capital Management Inc. now owns 7,845,331 shares of the financial services provider’s stock valued at $298,357,000 after purchasing an additional 1,586,062 shares during the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

In other news, Director James P. Healy acquired 5,000 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Tuesday, July 25th. The stock was bought at an average price of $41.97 per share, for a total transaction of $209,850.00. Following the completion of the transaction, the director now owns 40,792 shares in the company, valued at $1,712,040.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael John Curcio sold 33,474 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $40.38, for a total value of $1,351,680.12. Following the sale, the insider now owns 267,151 shares of the company’s stock, valued at approximately $10,787,557.38. The disclosure for this sale can be found here. In the last quarter, 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 (ETFC) opened at 41.78 on Friday. The firm has a 50-day moving average price of $40.64 and a 200 day moving average price of $37.26. The company has a market cap of $11.51 billion, a P/E ratio of 19.52 and a beta of 1.46. E*TRADE Financial Corporation has a 52 week low of $27.33 and a 52 week high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. E*TRADE Financial Corporation’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 business earned $0.48 earnings per share. Analysts expect that E*TRADE Financial Corporation will post $2.26 EPS for the current fiscal 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 buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

WARNING: “Rafferty Asset Management LLC Has $1.55 Million Position in E*TRADE Financial Corporation (ETFC)” was published by Daily Political and is owned by of Daily Political. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/09/22/rafferty-asset-management-llc-has-1-55-million-position-in-etrade-financial-corporation-etfc.html.

Several equities research analysts have recently issued reports on ETFC shares. UBS AG reaffirmed a “buy” rating and set a $43.00 target price on shares of E*TRADE Financial Corporation in a research report on Thursday, May 25th. Deutsche Bank AG raised their target price on E*TRADE Financial Corporation from $45.00 to $47.00 and gave the company a “buy” rating in a research report 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 report on Wednesday, June 21st. SunTrust Banks, Inc. raised their target price on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Finally, Rosenblatt Securities started coverage on E*TRADE Financial Corporation in a research report on Thursday, July 13th. They set a “buy” rating and a $43.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $42.53.

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.

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.