Thrivent Financial for Lutherans Cuts Stock Holdings in E*TRADE Financial Corp (NASDAQ:ETFC)

Thrivent Financial for Lutherans cut its position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 99.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,297 shares of the financial services provider’s stock after selling 2,793,141 shares during the period. Thrivent Financial for Lutherans’ holdings in E*TRADE Financial were worth $353,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of E*TRADE Financial by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 7,176,471 shares of the financial services provider’s stock valued at $325,597,000 after purchasing an additional 216,252 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of E*TRADE Financial in the fourth quarter valued at approximately $29,000. Banque Cantonale Vaudoise acquired a new position in shares of E*TRADE Financial during the 4th quarter worth approximately $210,000. Korea Investment CORP raised its stake in shares of E*TRADE Financial by 60.7% during the 4th quarter. Korea Investment CORP now owns 42,614 shares of the financial services provider’s stock worth $1,933,000 after buying an additional 16,100 shares during the period. Finally, CI Investments Inc. acquired a new stake in E*TRADE Financial in the 4th quarter valued at $492,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ETFC opened at $49.73 on Wednesday. The company has a market capitalization of $10.77 billion, a P/E ratio of 12.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The company has a 50 day simple moving average of $45.92 and a 200-day simple moving average of $43.04. E*TRADE Financial Corp has a 1 year low of $25.76 and a 1 year high of $57.30.

E*TRADE Financial (NASDAQ:ETFC) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.18). E*TRADE Financial had a return on equity of 15.84% and a net margin of 29.81%. The business had revenue of $707.00 million for the quarter, compared to analyst estimates of $721.59 million. During the same period last year, the business earned $1.09 EPS. E*TRADE Financial’s revenue was down 6.4% compared to the same quarter last year. As a group, research analysts expect that E*TRADE Financial Corp will post 2.81 EPS for the current year.

Several analysts have recently issued reports on the stock. Deutsche Bank lifted their target price on shares of E*TRADE Financial from $35.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, April 9th. BidaskClub raised E*TRADE Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered shares of E*TRADE Financial from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a report on Tuesday, June 9th. Piper Sandler raised their price target on shares of E*TRADE Financial from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, ValuEngine cut shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.11.

About E*TRADE Financial

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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