American International Group Inc. Trims Position in E*TRADE Financial Corp (ETFC)

American International Group Inc. decreased its position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,751 shares of the financial services provider’s stock after selling 10,332 shares during the period. American International Group Inc.’s holdings in E*TRADE Financial were worth $3,914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC lifted its position in shares of E*TRADE Financial by 0.3% in the second quarter. Wedge Capital Management L L P NC now owns 23,923 shares of the financial services provider’s stock worth $910,000 after buying an additional 62 shares during the last quarter. Sentry Investment Management LLC lifted its position in shares of E*TRADE Financial by 0.6% in the second quarter. Sentry Investment Management LLC now owns 17,179 shares of the financial services provider’s stock worth $653,000 after buying an additional 95 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of E*TRADE Financial by 0.4% in the second quarter. CIBC Asset Management Inc now owns 26,191 shares of the financial services provider’s stock worth $996,000 after buying an additional 106 shares during the last quarter. BlueMountain Capital Management LLC lifted its position in shares of E*TRADE Financial by 0.6% in the second quarter. BlueMountain Capital Management LLC now owns 30,621 shares of the financial services provider’s stock worth $1,165,000 after buying an additional 182 shares during the last quarter. Finally, Krilogy Financial LLC lifted its position in shares of E*TRADE Financial by 7.5% in the second quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $141,000 after buying an additional 260 shares during the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Michael John Curcio sold 33,474 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $40.38, for a total transaction of $1,351,680.12. Following the transaction, the insider now directly owns 267,151 shares in the company, valued at $10,787,557.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Karl A. Roessner sold 8,578 shares of the business’s stock in a transaction dated 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 in the company, valued at $9,139,848.19. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

E*TRADE Financial Corp (NASDAQ ETFC) opened at $49.40 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $13,544.44, a PE ratio of 25.52, a PEG ratio of 1.79 and a beta of 1.45. E*TRADE Financial Corp has a 12 month low of $32.25 and a 12 month high of $50.90.

E*TRADE Financial (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, beating the consensus estimate of $0.51 by $0.04. E*TRADE Financial had a return on equity of 9.34% and a net margin of 27.35%. The firm had revenue of $599.00 million for the quarter, compared to analyst estimates of $598.96 million. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. research analysts predict that E*TRADE Financial Corp will post 2.26 EPS for the current fiscal year.

ETFC has been the subject of a number of analyst reports. Zacks Investment Research raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, October 10th. Deutsche Bank boosted their price target on E*TRADE Financial from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. SunTrust Banks reaffirmed a “buy” rating and issued a $50.00 price target on shares of E*TRADE Financial in a research report on Friday, October 20th. Bank of America raised E*TRADE Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $49.00 in a research report on Monday, October 9th. Finally, Credit Suisse Group initiated coverage on E*TRADE Financial in a research report on Thursday, November 30th. They issued an “outperform” rating and a $56.00 price target for the company. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. E*TRADE Financial presently has an average rating of “Buy” and a consensus price target of $47.40.

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E*TRADE Financial 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.

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

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