Todays Report: Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Sold shares of E-Trade Financial Corp. (ETFC)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Sold shares of E-Trade Financial Corp. (ETFC)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decreased its stake in E-Trade Financial Corp. (NASDAQ:ETFC) by 20.1% during the third quarter, Holdings Channel reports. The fund owned 163,280 shares of the company’s stock after selling 41,140 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.06% of E-Trade Financial Corp. worth $4,755,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gateway Investment Advisers LLC increased its position in shares of E-Trade Financial Corp. by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 22,017 shares of the company’s stock valued at $517,000 after buying an additional 75 shares during the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of E-Trade Financial Corp. by 0.8% in the third quarter. Independent Portfolio Consultants Inc. now owns 17,405 shares of the company’s stock valued at $507,000 after buying an additional 145 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of E-Trade Financial Corp. by 1.3% in the second quarter. LS Investment Advisors LLC now owns 12,642 shares of the company’s stock valued at $297,000 after buying an additional 162 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of E-Trade Financial Corp. by 0.7% in the second quarter. CIBC Asset Management Inc now owns 28,701 shares of the company’s stock valued at $674,000 after buying an additional 200 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of E-Trade Financial Corp. by 0.8% in the third quarter. Capstone Asset Management Co. now owns 34,321 shares of the company’s stock valued at $999,000 after buying an additional 259 shares during the last quarter. 95.92% of the stock is owned by hedge funds and other institutional investors.

E-Trade Financial Corp. (NASDAQ:ETFC) remained flat at $34.57 during midday trading on Thursday. 2,786,940 shares of the company’s stock were exchanged. The company has a market cap of $9.48 billion, a PE ratio of 19.08 and a beta of 1.69. E-Trade Financial Corp. has a 1-year low of $19.61 and a 1-year high of $34.66. The firm’s 50-day moving average price is $29.95 and its 200-day moving average price is $26.91.

E-Trade Financial Corp. (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.13. The business had revenue of $486 million for the quarter, compared to analysts’ expectations of $645 million. E-Trade Financial Corp. had a return on equity of 8.31% and a net margin of 27.25%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. On average, analysts predict that E-Trade Financial Corp. will post $1.82 EPS for the current fiscal year.

ETFC has been the subject of several recent research reports. Bank of America Corp. downgraded E-Trade Financial Corp. from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Thursday, October 13th. Nomura reaffirmed a “buy” rating and issued a $33.00 price objective (up previously from $32.00) on shares of E-Trade Financial Corp. in a research note on Saturday, October 22nd. Jefferies Group upped their price objective on E-Trade Financial Corp. from $28.00 to $31.00 and gave the company a “hold” rating in a research note on Tuesday, October 11th. upped their price objective on E-Trade Financial Corp. from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 22nd. Finally, Barclays PLC set a $30.00 price objective on E-Trade Financial Corp. and gave the company a “buy” rating in a research note on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. E-Trade Financial Corp. has a consensus rating of “Buy” and a consensus target price of $31.76.

About E-Trade Financial Corp.

E*Trade Financial Corporation is a financial services company. The Company provides 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.

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