Calamos Advisors LLC grew its holdings in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 55.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,526,365 shares of the financial services provider’s stock after acquiring an additional 545,859 shares during the period. Calamos Advisors LLC owned about 0.55% of E*TRADE Financial Corporation worth $66,565,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in ETFC. New England Research & Management Inc. bought a new stake in E*TRADE Financial Corporation in the third quarter worth about $379,000. Aviva PLC boosted its holdings in shares of E*TRADE Financial Corporation by 6.1% during the 2nd quarter. Aviva PLC now owns 179,995 shares of the financial services provider’s stock valued at $6,849,000 after acquiring an additional 10,334 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of E*TRADE Financial Corporation during the 2nd quarter valued at about $3,424,000. Burney Co. boosted its holdings in shares of E*TRADE Financial Corporation by 3.7% during the 2nd quarter. Burney Co. now owns 71,205 shares of the financial services provider’s stock valued at $2,683,000 after acquiring an additional 2,563 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of E*TRADE Financial Corporation by 19.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,032 shares of the financial services provider’s stock worth $2,587,000 after purchasing an additional 11,170 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.
ETFC has been the topic of several recent analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $43.00 price objective (up previously from $39.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 target price on shares of E*TRADE Financial Corporation in a report on Friday, July 21st. Zacks Investment Research downgraded E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Deutsche Bank AG lifted their price objective on E*TRADE Financial Corporation from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Robert W. Baird restated an “outperform” rating and set a $49.00 price target (up previously from $43.00) on shares of E*TRADE Financial Corporation in a research note on Saturday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $46.79.
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Shares of E*TRADE Financial Corporation (ETFC) traded up $0.68 on Tuesday, reaching $43.60. The company had a trading volume of 1,865,100 shares, compared to its average volume of 2,735,406. E*TRADE Financial Corporation has a 1 year low of $32.25 and a 1 year high of $45.70. The stock has a market capitalization of $11,573.80, a P/E ratio of 21.68, a P/E/G ratio of 1.52 and a beta of 1.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27.
E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.34% and a net margin of 27.35%. The business had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $598.96 million. During the same period in the prior year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. sell-side analysts anticipate that E*TRADE Financial Corporation will post 2.26 earnings per share for the current year.
E*TRADE Financial Corporation announced that its board 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
In other news, insider Michael John Curcio sold 33,474 shares of the business’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 completion of the transaction, the insider now owns 267,151 shares of the company’s stock, valued at approximately $10,787,557.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Karl A. Roessner sold 14,898 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $39.41, for a total transaction of $587,130.18. Following the completion of the transaction, the chief executive officer now directly owns 232,702 shares of the company’s stock, valued at $9,170,785.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,927 shares of company stock valued at $2,679,327. 0.17% of the stock is currently owned by corporate insiders.
About E*TRADE Financial Corporation
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.
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