State Board of Administration of Florida Retirement System Sells 5,150 Shares of E*TRADE Financial Corp (ETFC)

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State Board of Administration of Florida Retirement System cut its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 1.4% during the 1st quarter, Holdings Channel reports. The firm owned 375,792 shares of the financial services provider’s stock after selling 5,150 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in E*TRADE Financial were worth $17,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Liberty Wealth Management LLC bought a new stake in shares of E*TRADE Financial during the 4th quarter worth about $27,000. Oregon Public Employees Retirement Fund grew its stake in shares of E*TRADE Financial by 1,689.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,499,423 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,415,639 shares during the last quarter. Arrow Financial Corp acquired a new position in shares of E*TRADE Financial in the 1st quarter worth approximately $39,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of E*TRADE Financial by 32.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 915 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 222 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of E*TRADE Financial by 93.0% in the 4th quarter. IFP Advisors Inc now owns 965 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

ETFC has been the topic of several recent research reports. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Wednesday, January 16th. ValuEngine raised shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Barclays lifted their price objective on shares of E*TRADE Financial to $55.00 and gave the stock an “overweight” rating in a research note on Friday, January 25th. Credit Suisse Group reaffirmed a “buy” rating on shares of E*TRADE Financial in a research note on Friday, January 25th. Finally, Morgan Stanley set a $62.00 price objective on shares of E*TRADE Financial and gave the stock a “buy” rating in a research note on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $59.83.

E*TRADE Financial stock opened at $48.50 on Thursday. The company has a market capitalization of $11.62 billion, a PE ratio of 12.47, a PEG ratio of 1.00 and a beta of 1.16. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28. E*TRADE Financial Corp has a fifty-two week low of $40.41 and a fifty-two week high of $66.46.

E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.16. The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $738.04 million. E*TRADE Financial had a net margin of 37.50% and a return on equity of 18.06%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. On average, equities research analysts predict that E*TRADE Financial Corp will post 4.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, May 10th. E*TRADE Financial’s dividend payout ratio (DPR) is currently 14.40%.

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

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