William Blair Investment Management LLC reduced its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 9.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,161 shares of the financial services provider’s stock after selling 1,552 shares during the period. William Blair Investment Management LLC’s holdings in E*TRADE Financial were worth $657,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in E*TRADE Financial by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,292,883 shares of the financial services provider’s stock worth $232,252,000 after purchasing an additional 878,417 shares during the period. Boston Partners raised its position in E*TRADE Financial by 13.9% in the first quarter. Boston Partners now owns 4,660,073 shares of the financial services provider’s stock worth $216,367,000 after acquiring an additional 567,628 shares during the period. Northern Trust Corp increased its stake in shares of E*TRADE Financial by 0.4% in the fourth quarter. Northern Trust Corp now owns 4,197,323 shares of the financial services provider’s stock worth $184,179,000 after purchasing an additional 14,996 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of E*TRADE Financial by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,424,703 shares of the financial services provider’s stock worth $150,020,000 after purchasing an additional 23,931 shares in the last quarter. Finally, Norges Bank purchased a new position in E*TRADE Financial during the fourth quarter valued at $103,578,000. 91.48% of the stock is owned by institutional investors and hedge funds.
Shares of ETFC traded down $0.95 during trading on Wednesday, reaching $45.69. The company’s stock had a trading volume of 95,082 shares, compared to its average volume of 2,523,329. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.28. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.97 and a beta of 1.23. E*TRADE Financial Corp has a twelve month low of $40.41 and a twelve month high of $65.79.
The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, May 10th. This represents a $0.56 annualized dividend and a yield of 1.23%. E*TRADE Financial’s dividend payout ratio is currently 14.40%.
Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Thursday, May 23rd. UBS Group cut shares of E*TRADE Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $58.00 to $51.00 in a research note on Wednesday, February 20th. Finally, Morgan Stanley boosted their target price on shares of E*TRADE Financial from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. E*TRADE Financial presently has an average rating of “Buy” and an average price target of $58.45.
In related news, Director Rodger A. Lawson sold 41,322 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.13, for a total value of $1,988,827.86. Following the completion of the sale, the director now directly owns 114,753 shares of the company’s stock, valued at approximately $5,523,061.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
E*TRADE Financial Company Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.
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