Russell Investments Group Ltd. Acquires 201,004 Shares of E*TRADE Financial Corp (ETFC)

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Russell Investments Group Ltd. raised its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 106.8% in the 3rd quarter, Holdings Channel reports. The firm owned 389,276 shares of the financial services provider’s stock after purchasing an additional 201,004 shares during the quarter. Russell Investments Group Ltd.’s holdings in E*TRADE Financial were worth $20,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC boosted its holdings in shares of E*TRADE Financial by 18.0% during the second quarter. Flagship Harbor Advisors LLC now owns 6,273 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 958 shares during the period. Greenwood Capital Associates LLC boosted its holdings in shares of E*TRADE Financial by 24.7% during the second quarter. Greenwood Capital Associates LLC now owns 6,620 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 1,310 shares during the period. Parallel Advisors LLC boosted its holdings in shares of E*TRADE Financial by 362.5% during the second quarter. Parallel Advisors LLC now owns 1,679 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 1,316 shares during the period. Hills Bank & Trust Co. boosted its holdings in shares of E*TRADE Financial by 9.1% during the third quarter. Hills Bank & Trust Co. now owns 17,080 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 1,425 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of E*TRADE Financial by 3.7% during the second quarter. Metropolitan Life Insurance Co. NY now owns 42,287 shares of the financial services provider’s stock valued at $2,586,000 after acquiring an additional 1,519 shares during the period. Hedge funds and other institutional investors own 91.30% of the company’s stock.

ETFC stock opened at $52.41 on Wednesday. The stock has a market capitalization of $12.99 billion, a P/E ratio of 23.93, a P/E/G ratio of 0.80 and a beta of 1.09. E*TRADE Financial Corp has a fifty-two week low of $42.56 and a fifty-two week high of $66.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.83 by $0.17. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The firm had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $710.62 million. During the same period in the previous year, the business earned $0.49 earnings per share. E*TRADE Financial’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, analysts anticipate that E*TRADE Financial Corp will post 3.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.07%. The ex-dividend date is Monday, October 29th. E*TRADE Financial’s dividend payout ratio (DPR) is presently 25.57%.

E*TRADE Financial announced that its board has initiated a stock buyback program on Thursday, October 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several brokerages have recently issued reports on ETFC. ValuEngine downgraded shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. BidaskClub raised shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Saturday. Credit Suisse Group reduced their price target on shares of E*TRADE Financial from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, July 20th. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a report on Monday, July 16th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of E*TRADE Financial in a report on Wednesday, July 11th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $65.00.

In other E*TRADE Financial news, insider Brent Simonich purchased 1,943 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were purchased at an average cost of $51.50 per share, for a total transaction of $100,064.50. Following the completion of the transaction, the insider now owns 26,330 shares in the company, valued at $1,355,995. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Rodger A. Lawson purchased 5,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was acquired at an average price of $51.26 per share, for a total transaction of $256,300.00. Following the completion of the transaction, the chairman now owns 109,191 shares of the company’s stock, valued at approximately $5,597,130.66. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 26,943 shares of company stock worth $1,385,765. 0.12% of the stock is owned by company insiders.

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About E*TRADE Financial

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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Want to see what other hedge funds are holding ETFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for E*TRADE Financial Corp (NASDAQ:ETFC).

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

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