California State Teachers Retirement System Cuts Holdings in E*TRADE Financial Corp (NASDAQ:ETFC)

California State Teachers Retirement System trimmed its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 383,534 shares of the financial services provider’s stock after selling 6,043 shares during the quarter. California State Teachers Retirement System’s holdings in E*TRADE Financial were worth $16,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ETFC. Kavar Capital Partners LLC purchased a new position in shares of E*TRADE Financial in the 2nd quarter worth $31,000. FNY Investment Advisers LLC boosted its stake in shares of E*TRADE Financial by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock worth $44,000 after buying an additional 500 shares during the last quarter. Ossiam purchased a new position in shares of E*TRADE Financial in the 2nd quarter worth $44,000. Signaturefd LLC boosted its stake in shares of E*TRADE Financial by 58.1% in the 3rd quarter. Signaturefd LLC now owns 1,029 shares of the financial services provider’s stock worth $45,000 after buying an additional 378 shares during the last quarter. Finally, Amica Retiree Medical Trust purchased a new position in shares of E*TRADE Financial in the 2nd quarter worth $46,000. Institutional investors and hedge funds own 84.60% of the company’s stock.

NASDAQ ETFC opened at $44.56 on Tuesday. The company has a market capitalization of $10.84 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 0.28. The business’s fifty day moving average is $42.56 and its 200 day moving average is $43.86. E*TRADE Financial Corp has a fifty-two week low of $34.68 and a fifty-two week high of $54.08.

E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.07. The company had revenue of $767.00 million for the quarter, compared to the consensus estimate of $742.83 million. E*TRADE Financial had a return on equity of 18.41% and a net margin of 35.79%. E*TRADE Financial’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. On average, sell-side analysts forecast that E*TRADE Financial Corp will post 4.1 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 1.26%. E*TRADE Financial’s dividend payout ratio (DPR) is presently 14.40%.

ETFC has been the topic of a number of research reports. Wells Fargo & Co raised their price target on E*TRADE Financial from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley raised their price target on E*TRADE Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Barclays raised their price target on E*TRADE Financial from $32.00 to $39.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 27th. Deutsche Bank lifted their target price on E*TRADE Financial from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, BidaskClub upgraded E*TRADE Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $46.88.

In other E*TRADE Financial news, EVP Michael John Curcio sold 53,584 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $45.18, for a total transaction of $2,420,925.12. Following the sale, the executive vice president now directly owns 149,159 shares of the company’s stock, valued at $6,739,003.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rodger A. Lawson sold 5,109 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $230,824.62. Following the sale, the director now directly owns 113,739 shares in the company, valued at $5,138,728.02. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

About E*TRADE Financial

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

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