Profund Advisors LLC grew its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,611 shares of the financial services provider’s stock after buying an additional 2,547 shares during the period. Profund Advisors LLC’s holdings in E*TRADE Financial were worth $4,443,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ETFC. Kavar Capital Partners LLC bought a new stake in shares of E*TRADE Financial during the 2nd quarter valued at $31,000. Gemmer Asset Management LLC bought a new stake in shares of E*TRADE Financial during the 2nd quarter valued at $42,000. FNY Investment Advisers LLC boosted its holdings in shares of E*TRADE Financial by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock valued at $44,000 after buying an additional 500 shares in the last quarter. Ossiam bought a new position in E*TRADE Financial in the 2nd quarter worth about $44,000. Finally, Amica Retiree Medical Trust bought a new position in E*TRADE Financial in the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.
Shares of NASDAQ:ETFC traded up $0.49 during mid-day trading on Friday, reaching $45.32. 130,959 shares of the company traded hands, compared to its average volume of 2,646,109. The company’s 50 day moving average price is $43.37 and its 200-day moving average price is $46.51. The firm has a market cap of $10.79 billion, a PE ratio of 11.69, a PEG ratio of 0.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.27 and a quick ratio of 0.27. E*TRADE Financial Corp has a 52 week low of $39.31 and a 52 week high of $56.44.
E*TRADE Financial declared that its board has authorized a stock buyback program on Thursday, July 18th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were paid a $0.14 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.56 annualized dividend and a yield of 1.24%. E*TRADE Financial’s payout ratio is 14.40%.
A number of equities analysts recently issued reports on ETFC shares. Raymond James set a $57.00 price target on shares of E*TRADE Financial and gave the stock a “buy” rating in a research note on Friday, July 19th. Credit Suisse Group set a $57.00 price target on shares of E*TRADE Financial and gave the stock a “buy” rating in a research note on Friday, July 19th. Compass Point set a $52.00 price target on shares of E*TRADE Financial and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Barclays boosted their target price on E*TRADE Financial from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, JMP Securities boosted their target price on E*TRADE Financial to $63.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. E*TRADE Financial presently has a consensus rating of “Hold” and a consensus price target of $55.46.
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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