Dorsey Wright & Associates Invests $1.48 Million in E*TRADE Financial Corporation (ETFC)

Dorsey Wright & Associates acquired a new position in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,908 shares of the financial services provider’s stock, valued at approximately $1,479,000.

Several other hedge funds also recently added to or reduced their stakes in ETFC. NN Investment Partners Holdings N.V. boosted its position in shares of E*TRADE Financial Corporation by 532.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 10,115 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 8,515 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of E*TRADE Financial Corporation by 60.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 16,423 shares of the financial services provider’s stock worth $624,000 after purchasing an additional 6,180 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of E*TRADE Financial Corporation by 163.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 3,513 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of E*TRADE Financial Corporation by 518.0% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 44,462 shares of the financial services provider’s stock worth $1,691,000 after purchasing an additional 37,268 shares in the last quarter. Finally, Exane Derivatives acquired a new stake in shares of E*TRADE Financial Corporation in the 2nd quarter worth about $130,000. 94.94% of the stock is currently owned by institutional investors.

E*TRADE Financial Corporation (ETFC) traded up $0.68 during trading hours on Tuesday, reaching $43.60. 1,865,100 shares of the company’s stock traded hands, compared to its average volume of 2,735,406. 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 stock has a market cap of $11,573.80, a price-to-earnings 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 52-week low of $32.25 and a 52-week high of $45.70.

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

E*TRADE Financial Corporation announced that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, CEO Karl A. Roessner sold 14,898 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $39.41, for a total transaction of $587,130.18. Following the completion of the sale, the chief executive officer now owns 232,702 shares in the company, valued at approximately $9,170,785.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Karl A. Roessner sold 8,578 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $40.49, for a total transaction of $347,323.22. Following the sale, the chief executive officer now owns 225,731 shares of the company’s stock, valued at approximately $9,139,848.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,927 shares of company stock valued at $2,679,327. 0.17% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on the stock. SunTrust Banks, Inc. restated a “buy” rating and issued a $50.00 target price on shares of E*TRADE Financial Corporation in a report on Monday, September 18th. Barclays PLC upped their target price on shares of E*TRADE Financial Corporation from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Zacks Investment Research lowered shares of E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub lowered shares of E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 target price on shares of E*TRADE Financial Corporation in a report on Friday, July 21st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.79.

COPYRIGHT VIOLATION NOTICE: This article was originally published by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://transcriptdaily.com/2017/11/14/dorsey-wright-associates-invests-1-48-million-in-etrade-financial-corporation-etfc.html.

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.

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 Corporation (NASDAQ:ETFC).

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

Receive News & Ratings for E*TRADE Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply