E*TRADE Financial Corp (ETFC) Stake Decreased by Millennium Management LLC

Millennium Management LLC lowered its holdings in E*TRADE Financial Corp (NASDAQ:ETFC) by 35.2% in the 4th quarter, Holdings Channel reports. The firm owned 4,669,963 shares of the financial services provider’s stock after selling 2,539,080 shares during the period. Millennium Management LLC’s holdings in E*TRADE Financial were worth $204,918,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ETFC. CENTRAL TRUST Co grew its holdings in shares of E*TRADE Financial by 98.8% in the fourth quarter. CENTRAL TRUST Co now owns 5,735 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 2,850 shares during the period. Toscafund Asset Management LLP grew its holdings in shares of E*TRADE Financial by 22.5% in the third quarter. Toscafund Asset Management LLP now owns 735,000 shares of the financial services provider’s stock worth $38,507,000 after acquiring an additional 135,000 shares during the period. Calamos Advisors LLC grew its holdings in shares of E*TRADE Financial by 1.8% in the fourth quarter. Calamos Advisors LLC now owns 1,677,061 shares of the financial services provider’s stock worth $73,589,000 after acquiring an additional 30,080 shares during the period. Brown Advisory Inc. grew its holdings in E*TRADE Financial by 97.7% during the third quarter. Brown Advisory Inc. now owns 23,952 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 11,835 shares during the period. Finally, AGF Investments Inc. grew its holdings in E*TRADE Financial by 31.5% during the fourth quarter. AGF Investments Inc. now owns 1,780,778 shares of the financial services provider’s stock valued at $78,141,000 after purchasing an additional 426,628 shares during the period. Hedge funds and other institutional investors own 93.41% of the company’s stock.

Several research firms have issued reports on ETFC. UBS Group lowered E*TRADE Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $58.00 to $51.00 in a report on Wednesday, February 20th. Morgan Stanley set a $62.00 price target on E*TRADE Financial and gave the company a “buy” rating in a report on Tuesday, January 29th. Credit Suisse Group reissued a “buy” rating on shares of E*TRADE Financial in a report on Friday, January 25th. ValuEngine lowered E*TRADE Financial from a “hold” rating to a “sell” rating in a report on Friday, January 25th. Finally, Barclays boosted their price target on E*TRADE Financial to $55.00 and gave the company an “overweight” rating in a report on Friday, January 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $61.33.

Shares of NASDAQ ETFC traded up $0.46 during mid-day trading on Monday, reaching $45.48. The company’s stock had a trading volume of 46,126 shares, compared to its average volume of 2,563,018. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.01 and a beta of 1.15. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. E*TRADE Financial Corp has a 52 week low of $40.41 and a 52 week high of $66.46.

E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings data 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. The firm had revenue of $735.00 million during the quarter, compared to analyst estimates of $745.69 million. E*TRADE Financial had a return on equity of 17.27% and a net margin of 36.62%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. Research analysts expect that E*TRADE Financial Corp will post 4.17 EPS for the current fiscal year.

In other news, CEO Karl A. Roessner sold 45,724 shares of the company’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $47.35, for a total value of $2,165,031.40. Following the completion of the transaction, the chief executive officer now owns 175,092 shares of the company’s stock, valued at $8,290,606.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael John Curcio sold 21,928 shares of the company’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $47.36, for a total value of $1,038,510.08. Following the completion of the transaction, the executive vice president now directly owns 213,896 shares of the company’s stock, valued at approximately $10,130,114.56. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

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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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