Systematic Financial Management Lp Lowers stake in E*TRADE Financial Corp (ETFC)

E*TRADE Financial Corp (ETFC) : Systematic Financial Management Lp reduced its stake in E*TRADE Financial Corp by 10.34% during the most recent quarter end. The investment management company now holds a total of 6,067,712 shares of E*TRADE Financial Corp which is valued at $151 Million after selling 699,562 shares in E*TRADE Financial Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.E*TRADE Financial Corp makes up approximately 1.92% of Systematic Financial Management Lp’s portfolio.

Other Hedge Funds, Including , Proshare Advisors reduced its stake in ETFC by selling 21,279 shares or 23.72% in the most recent quarter. The Hedge Fund company now holds 68,427 shares of ETFC which is valued at $1.7 Million. E*TRADE Financial Corp makes up approx 0.02% of Proshare Advisors’s portfolio.Calvert Investment Management boosted its stake in ETFC in the latest quarter, The investment management firm added 3,878 additional shares and now holds a total of 21,700 shares of E*TRADE Financial Corp which is valued at $540,981. E*TRADE Financial Corp makes up approx 0.02% of Calvert Investment Management’s portfolio.Conning boosted its stake in ETFC in the latest quarter, The investment management firm added 2,980 additional shares and now holds a total of 14,507 shares of E*TRADE Financial Corp which is valued at $365,286. E*TRADE Financial Corp makes up approx 0.02% of Conning’s portfolio.

E*TRADE Financial Corp opened for trading at $25.02 and hit $25.35 on the upside on Monday, eventually ending the session at $25.21, with a gain of 1.29% or 0.32 points. The heightened volatility saw the trading volume jump to 28,39,998 shares. Company has a market cap of $7,027 M.

On the company’s financial health, E*TRADE Financial Corp reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.33. The company had revenue of $472.00 million for the quarter, compared to analysts expectations of $475.14 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

E*Trade Financial Corporation is a financial services company and an online brokerage industry. The Company offers solutions for individual investors and stock plan participants. The Company offers its customers to take control of its financial futures by providing the products tools services and advice they need to meet their near and long term investing goals. The Company provides these services to customers both online and through their network of customer service representatives and Financial Consultants – over the phone and in person at 30 Company branches across the United States. The Company operates a bank with the primary purpose of maximizing the value of deposits generated though its brokerage business.

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