Thrivent Financial for Lutherans Decreases Stock Holdings in E*TRADE Financial Corp (NASDAQ:ETFC)

Thrivent Financial for Lutherans lessened its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 99.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,297 shares of the financial services provider’s stock after selling 2,793,141 shares during the quarter. Thrivent Financial for Lutherans’ holdings in E*TRADE Financial were worth $353,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of E*TRADE Financial by 3.1% during the fourth quarter. Victory Capital Management Inc. now owns 7,176,471 shares of the financial services provider’s stock valued at $325,597,000 after purchasing an additional 216,252 shares during the last quarter. Bank of New York Mellon Corp raised its stake in E*TRADE Financial by 117.0% during the 4th quarter. Bank of New York Mellon Corp now owns 5,168,546 shares of the financial services provider’s stock valued at $234,498,000 after buying an additional 2,786,696 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of E*TRADE Financial by 6.7% during the 1st quarter. First Trust Advisors LP now owns 4,035,403 shares of the financial services provider’s stock valued at $138,495,000 after buying an additional 254,881 shares during the period. Geode Capital Management LLC boosted its stake in shares of E*TRADE Financial by 0.7% in the 1st quarter. Geode Capital Management LLC now owns 3,707,199 shares of the financial services provider’s stock worth $126,996,000 after buying an additional 24,572 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of E*TRADE Financial by 6.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,381,216 shares of the financial services provider’s stock worth $153,406,000 after acquiring an additional 190,023 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

ETFC has been the topic of several recent research reports. Piper Sandler increased their price objective on shares of E*TRADE Financial from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. ValuEngine downgraded shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 8th. UBS Group raised their target price on E*TRADE Financial from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Deutsche Bank boosted their price target on E*TRADE Financial from $35.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, April 9th. Finally, Wells Fargo & Co raised their price objective on E*TRADE Financial from $35.00 to $39.00 in a research note on Monday, April 27th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.11.

NASDAQ:ETFC opened at $49.73 on Wednesday. The business’s 50-day moving average is $45.92 and its 200 day moving average is $43.04. E*TRADE Financial Corp has a 12 month low of $25.76 and a 12 month high of $57.30. The company has a market capitalization of $10.77 billion, a P/E ratio of 12.62 and a beta of 1.25. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.24.

E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.18). The firm had revenue of $707.00 million during the quarter, compared to the consensus estimate of $721.59 million. E*TRADE Financial had a return on equity of 15.84% and a net margin of 29.81%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. On average, research analysts forecast that E*TRADE Financial Corp will post 2.81 earnings per share for the current year.

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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