Massachusetts Financial Services Co. MA Raises Position in E-Trade (ETFC)

Massachusetts Financial Services Co. MA increased its stake in shares of E-Trade (NASDAQ:ETFC) by 83.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 807,967 shares of the financial services provider’s stock after acquiring an additional 368,456 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.30% of E-Trade worth $44,769,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of E-Trade by 12.0% during the fourth quarter. Toronto Dominion Bank now owns 116,835 shares of the financial services provider’s stock worth $5,792,000 after acquiring an additional 12,502 shares during the last quarter. Terra Nova Asset Management LLC boosted its position in shares of E-Trade by 6.3% during the fourth quarter. Terra Nova Asset Management LLC now owns 20,886 shares of the financial services provider’s stock worth $1,035,000 after acquiring an additional 1,235 shares during the last quarter. LPL Financial LLC boosted its position in shares of E-Trade by 3.6% during the fourth quarter. LPL Financial LLC now owns 51,038 shares of the financial services provider’s stock worth $2,530,000 after acquiring an additional 1,790 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of E-Trade by 40.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 19,000 shares of the financial services provider’s stock worth $942,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Hills Bank & Trust Co. boosted its position in shares of E-Trade by 21.6% during the fourth quarter. Hills Bank & Trust Co. now owns 10,905 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 1,935 shares during the last quarter. Hedge funds and other institutional investors own 93.97% of the company’s stock.

In other news, insider Brent Simonich sold 7,680 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $53.00, for a total value of $407,040.00. Following the sale, the insider now owns 26,240 shares of the company’s stock, valued at $1,390,720. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.12% of the company’s stock.

A number of brokerages recently weighed in on ETFC. JMP Securities upped their target price on shares of E-Trade from $58.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 29th. Raymond James upgraded shares of E-Trade from an “outperform” rating to a “strong-buy” rating in a research report on Monday, March 12th. SunTrust Banks upped their target price on shares of E-Trade from $3.70 to $70.00 and gave the stock a “buy” rating in a research report on Friday, April 20th. Sandler O’Neill reaffirmed a “hold” rating and set a $58.00 price target on shares of E-Trade in a research note on Thursday, March 15th. Finally, UBS upped their price target on shares of E-Trade from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. E-Trade currently has a consensus rating of “Buy” and a consensus price target of $59.18.

Shares of ETFC opened at $64.20 on Wednesday. E-Trade has a twelve month low of $63.59 and a twelve month high of $64.46. The firm has a market capitalization of $16.86 billion, a PE ratio of 24.66, a PEG ratio of 1.06 and a beta of 1.29. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31.

E-Trade (NASDAQ:ETFC) last announced its earnings results on Thursday, April 19th. The financial services provider reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09. E-Trade had a net margin of 28.40% and a return on equity of 11.64%. The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $686.31 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. equities research analysts predict that E-Trade will post 3.64 earnings per share for the current year.

E-Trade Company 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.

Institutional Ownership by Quarter for E-Trade (NASDAQ:ETFC)

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