Insider Selling: E*TRADE Financial Corporation (ETFC) CEO Sells $347,323.22 in Stock

E*TRADE Financial Corporation (NASDAQ:ETFC) CEO Karl A. Roessner sold 8,578 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $40.49, for a total value of $347,323.22. Following the transaction, the chief executive officer now owns 225,731 shares of the company’s stock, valued at $9,139,848.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

E*TRADE Financial Corporation (NASDAQ:ETFC) opened at 41.06 on Friday. The firm has a 50-day moving average price of $40.61 and a 200 day moving average price of $37.14. The stock has a market capitalization of $11.31 billion, a PE ratio of 19.19 and a beta of 1.46. E*TRADE Financial Corporation has a 12 month low of $27.34 and a 12 month high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $577.00 million for the quarter, compared to analyst estimates of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The company’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 earnings per share. Equities analysts anticipate that E*TRADE Financial Corporation will post $2.26 earnings per share for the current year.

E*TRADE Financial Corporation declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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ETFC has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating on shares of E*TRADE Financial Corporation in a report on Friday, July 14th. Morgan Stanley restated an “equal weight” rating and set a $40.00 price target (up from $38.00) on shares of E*TRADE Financial Corporation in a report on Monday, July 10th. SunTrust Banks, Inc. restated a “buy” rating on shares of E*TRADE Financial Corporation in a report on Monday, July 24th. Keefe, Bruyette & Woods restated a “hold” rating and set a $44.00 price target on shares of E*TRADE Financial Corporation in a report on Friday, July 21st. Finally, Robert W. Baird restated an “outperform” rating and set a $49.00 price target (up from $43.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. E*TRADE Financial Corporation presently has a consensus rating of “Buy” and a consensus price target of $41.61.

Hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in shares of E*TRADE Financial Corporation by 80.8% in 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 acquired a new position in shares of E*TRADE Financial Corporation in the second quarter valued at about $130,000. Quadrant Capital Group LLC increased its holdings in shares of E*TRADE Financial Corporation by 21.8% in 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. Krilogy Financial LLC increased its holdings in shares of E*TRADE Financial Corporation by 7.5% in 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. acquired a new position in shares of E*TRADE Financial Corporation in the second quarter valued at about $203,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

E*TRADE Financial Corporation Company Profile

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.

Insider Buying and Selling by Quarter for E*TRADE Financial Corporation (NASDAQ:ETFC)

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