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Mitsubishi UFJ Trust & Banking Corp Reduces Position in E*TRADE Financial Corp (ETFC)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in E*TRADE Financial Corp (NASDAQ:ETFC) by 63.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,063 shares of the financial services provider’s stock after selling 346,083 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of E*TRADE Financial worth $10,534,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of E*TRADE Financial by 46.7% in the 2nd quarter. Renaissance Technologies LLC now owns 743,040 shares of the financial services provider’s stock worth $45,444,000 after purchasing an additional 236,600 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in E*TRADE Financial by 2.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,546,675 shares of the financial services provider’s stock valued at $94,595,000 after purchasing an additional 35,983 shares in the last quarter. CIBC World Markets Inc. grew its position in E*TRADE Financial by 277.8% during the second quarter. CIBC World Markets Inc. now owns 44,465 shares of the financial services provider’s stock valued at $2,719,000 after purchasing an additional 32,694 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in E*TRADE Financial during the second quarter valued at approximately $647,000. Finally, Jupiter Asset Management Ltd. grew its position in E*TRADE Financial by 7.2% during the second quarter. Jupiter Asset Management Ltd. now owns 788,858 shares of the financial services provider’s stock valued at $48,247,000 after purchasing an additional 52,756 shares in the last quarter. Institutional investors and hedge funds own 94.52% of the company’s stock.

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NASDAQ ETFC opened at $48.65 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $12.37 billion, a P/E ratio of 22.21, a PEG ratio of 0.75 and a beta of 1.09. E*TRADE Financial Corp has a 1 year low of $45.97 and a 1 year high of $66.46.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.17. The business had revenue of $720.00 million during the quarter, compared to the consensus estimate of $710.62 million. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. E*TRADE Financial’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. On average, equities research analysts expect that E*TRADE Financial Corp will post 3.85 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Tuesday, October 30th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, October 29th. E*TRADE Financial’s dividend payout ratio is currently 25.57%.

E*TRADE Financial announced that its board has initiated a stock buyback program on Thursday, October 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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ETFC has been the topic of a number of research analyst reports. Bank of America lowered their price objective on shares of E*TRADE Financial from $67.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, September 26th. Raymond James lowered their price objective on shares of E*TRADE Financial from $70.00 to $64.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 19th. BidaskClub raised shares of E*TRADE Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th. Deutsche Bank lowered their price objective on shares of E*TRADE Financial from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of E*TRADE Financial in a research report on Thursday, November 15th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. E*TRADE Financial has an average rating of “Buy” and an average target price of $64.12.

In other news, insider Brent Simonich acquired 1,943 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was acquired at an average cost of $51.50 per share, with a total value of $100,064.50. Following the acquisition, the insider now owns 26,330 shares in the company, valued at $1,355,995. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael A. Pizzi acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were purchased at an average cost of $51.67 per share, with a total value of $516,700.00. Following the completion of the acquisition, the chief financial officer now owns 88,171 shares in the company, valued at approximately $4,555,795.57. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 32,668 shares of company stock valued at $1,685,354. 0.12% of the stock is owned by insiders.

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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.

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

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