Jupiter Asset Management Ltd. trimmed its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 92.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,072 shares of the financial services provider’s stock after selling 727,786 shares during the period. Jupiter Asset Management Ltd.’s holdings in E*TRADE Financial were worth $3,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Parallel Advisors LLC grew its holdings in E*TRADE Financial by 362.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,679 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,316 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in E*TRADE Financial during the 2nd quarter worth about $119,000. Stratos Wealth Partners LTD. bought a new position in E*TRADE Financial during the 3rd quarter worth about $102,000. Qube Research & Technologies Ltd bought a new position in E*TRADE Financial during the 2nd quarter worth about $128,000. Finally, First Interstate Bank bought a new position in E*TRADE Financial during the 3rd quarter worth about $122,000. Institutional investors own 94.66% of the company’s stock.

Several research analysts have issued reports on ETFC shares. UBS Group dropped their target price on shares of E*TRADE Financial from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, October 8th. Zacks Investment Research upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, September 25th. Jefferies Financial Group upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Wednesday, September 19th. They noted that the move was a valuation call. Morgan Stanley set a $70.00 price target on shares of E*TRADE Financial and gave the company a “buy” rating in a research report on Tuesday, September 18th. Finally, Bank of America decreased their price target on shares of E*TRADE Financial from $67.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.13.

ETFC stock opened at $50.23 on Wednesday. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.79 and a beta of 1.09. E*TRADE Financial Corp has a one year low of $44.53 and a one year high of $66.46. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.17. The business had revenue of $720.00 million during the quarter, compared to analyst estimates of $710.62 million. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. Analysts predict that E*TRADE Financial Corp will post 3.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, October 29th. E*TRADE Financial’s payout ratio is 25.57%.

E*TRADE Financial declared that its Board of Directors has approved a stock buyback plan on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In related news, insider Brent Simonich acquired 1,943 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average cost of $51.50 per share, with a total value of $100,064.50. Following the transaction, the insider now directly owns 26,330 shares of the company’s stock, valued at approximately $1,355,995. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rodger A. Lawson acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average cost of $51.27 per share, with a total value of $512,700.00. Following the completion of the transaction, the insider now directly owns 109,191 shares in the company, valued at $5,598,222.57. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 32,668 shares of company stock valued at $1,685,354. Insiders own 0.12% of the company’s stock.

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E*TRADE Financial Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.

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

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