FDx Advisors Inc. Cuts Holdings in E*TRADE Financial Corporation (ETFC)

FDx Advisors Inc. lowered its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 15.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,695 shares of the financial services provider’s stock after selling 7,624 shares during the quarter. FDx Advisors Inc.’s holdings in E*TRADE Financial Corporation were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ETFC. Quadrant Capital Group LLC boosted its stake in shares of E*TRADE Financial Corporation by 21.8% during the second quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 614 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of E*TRADE Financial Corporation by 80.8% during the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 1,448 shares during the period. Exane Derivatives purchased a new stake in shares of E*TRADE Financial Corporation during the second quarter valued at approximately $130,000. Krilogy Financial LLC boosted its stake in shares of E*TRADE Financial Corporation by 7.5% during the second quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 260 shares during the period. Finally, Financial Counselors Inc. purchased a new stake in shares of E*TRADE Financial Corporation during the second quarter valued at approximately $203,000. 94.94% of the stock is owned by institutional investors and hedge funds.

E*TRADE Financial Corporation (NASDAQ:ETFC) traded down $0.16 on Monday, reaching $42.92. The company’s stock had a trading volume of 1,599,400 shares, compared to its average volume of 2,739,398. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $11,573.80, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.52 and a beta of 1.44. E*TRADE Financial Corporation has a twelve month low of $31.33 and a twelve month high of $45.70.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $599.00 million during the quarter, compared to the consensus estimate of $598.96 million. E*TRADE Financial Corporation had a return on equity of 9.34% and a net margin of 27.35%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. sell-side analysts predict that E*TRADE Financial Corporation will post 2.26 EPS for the current fiscal year.

E*TRADE Financial Corporation declared that its board has initiated a share repurchase program on Thursday, July 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other E*TRADE Financial Corporation news, CEO Karl A. Roessner sold 8,578 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $40.49, for a total value of $347,323.22. Following the completion of the transaction, the chief executive officer now owns 225,731 shares in the company, valued at $9,139,848.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael John Curcio sold 33,474 shares of the stock in a transaction on Wednesday, September 13th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders sold 66,927 shares of company stock valued at $2,679,327. 0.17% of the stock is owned by corporate insiders.

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A number of research firms have recently weighed in on ETFC. Barclays PLC increased their price objective on E*TRADE Financial Corporation from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. BidaskClub lowered E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price objective (up previously from $40.00) on shares of E*TRADE Financial Corporation in a research note on Tuesday, July 25th. SunTrust Banks, Inc. reissued a “buy” rating and set a $50.00 price objective on shares of E*TRADE Financial Corporation in a research note on Monday, September 18th. Finally, Jefferies Group LLC reissued 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 note on Saturday, July 22nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $46.79.

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.

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

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