Hartford Investment Management Co. Sells 1,555 Shares of E*TRADE Financial Corp (ETFC)

Hartford Investment Management Co. lowered its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,194 shares of the financial services provider’s stock after selling 1,555 shares during the quarter. Hartford Investment Management Co.’s holdings in E*TRADE Financial were worth $1,808,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ETF Managers Group LLC boosted its holdings in E*TRADE Financial by 15.7% in the fourth quarter. ETF Managers Group LLC now owns 2,325 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 315 shares during the last quarter. CWM LLC boosted its holdings in E*TRADE Financial by 41.0% in the fourth quarter. CWM LLC now owns 1,500 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 436 shares during the last quarter. IFP Advisors Inc boosted its holdings in E*TRADE Financial by 93.0% in the fourth quarter. IFP Advisors Inc now owns 965 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 465 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in E*TRADE Financial by 100.0% in the fourth quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 500 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in E*TRADE Financial by 4.3% in the fourth quarter. IFM Investors Pty Ltd now owns 16,548 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 681 shares during the last quarter. 93.51% of the stock is owned by institutional investors.

In related news, Director James P. Healy purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, December 11th. The stock was acquired at an average cost of $45.36 per share, with a total value of $226,800.00. Following the transaction, the director now owns 49,735 shares of the company’s stock, valued at approximately $2,255,979.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Chersi purchased 2,200 shares of the stock in a transaction that occurred on Wednesday, January 30th. The stock was bought at an average cost of $46.24 per share, with a total value of $101,728.00. Following the completion of the transaction, the director now directly owns 3,253 shares in the company, valued at approximately $150,418.72. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Several analysts recently commented on the company. Zacks Investment Research cut E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Wednesday, December 19th. BidaskClub cut E*TRADE Financial from a “hold” rating to a “sell” rating in a report on Tuesday, December 11th. Morgan Stanley set a $62.00 price target on E*TRADE Financial and gave the stock a “buy” rating in a report on Tuesday, January 29th. Deutsche Bank cut their price target on E*TRADE Financial from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 16th. Finally, Credit Suisse Group restated an “outperform” rating on shares of E*TRADE Financial in a report on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the stock. E*TRADE Financial presently has an average rating of “Buy” and a consensus price target of $62.24.

Shares of NASDAQ:ETFC opened at $45.93 on Monday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. E*TRADE Financial Corp has a twelve month low of $40.41 and a twelve month high of $66.46. The company has a market cap of $11.68 billion, a PE ratio of 11.81, a PEG ratio of 1.03 and a beta of 1.19.

E*TRADE Financial (NASDAQ:ETFC) last issued its earnings results on Thursday, January 24th. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. E*TRADE Financial had a return on equity of 17.27% and a net margin of 36.62%. The company had revenue of $735.00 million for the quarter, compared to analyst estimates of $745.69 million. During the same period in the prior year, the firm earned $0.64 earnings per share. E*TRADE Financial’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts predict that E*TRADE Financial Corp will post 4.15 EPS for the current fiscal year.

E*TRADE Financial announced that its board has approved a share repurchase plan on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, February 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, January 31st. E*TRADE Financial’s payout ratio is 14.40%.

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E*TRADE Financial Profile

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.

Further Reading: The Discount Rate – What You Need to Know

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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