Southpoint Capital Advisors LP Cut Holding in E Trade Financial Corp (ETFC) by $36.75 Million

April 16, 2018 - By Dolores Ford

E*TRADE Financial Corporation (NASDAQ:ETFC) LogoInvestors sentiment decreased to 0.96 in Q4 2017. Its down 0.14, from 1.1 in 2017Q3. It worsened, as 37 investors sold ETFC shares while 161 reduced holdings. 67 funds opened positions while 124 raised stakes. 238.15 million shares or 3.07% less from 245.70 million shares in 2017Q3 were reported. Hills Fincl Bank And Tru has invested 0.16% in E*TRADE Financial Corporation (NASDAQ:ETFC). Pennant Capital Management Limited Company has invested 2.02% in E*TRADE Financial Corporation (NASDAQ:ETFC). Victory Cap Mngmt reported 7.11M shares. Fisher Asset Management Ltd Liability Corp invested in 1.00 million shares or 0.07% of the stock. Moreover, Sumitomo Mitsui Asset Management Limited has 0.01% invested in E*TRADE Financial Corporation (NASDAQ:ETFC). Citizens And Northern Corporation has 26,105 shares. Price T Rowe Associate Inc Md has 1.36M shares. State Board Of Administration Of Florida Retirement holds 0.06% or 451,275 shares in its portfolio. Retirement Sys Of Alabama reported 131,179 shares stake. Texas Permanent School Fund has invested 0.05% in E*TRADE Financial Corporation (NASDAQ:ETFC). The North Carolina-based Wedge L Lp Nc has invested 0.01% in E*TRADE Financial Corporation (NASDAQ:ETFC). Stanley Capital Mngmt Lc reported 133,761 shares. Nordea Invest Mngmt reported 0.03% of its portfolio in E*TRADE Financial Corporation (NASDAQ:ETFC). Hbk Invests Limited Partnership reported 0.02% of its portfolio in E*TRADE Financial Corporation (NASDAQ:ETFC). Lord Abbett Com Limited Liability Company reported 2.15M shares stake.

Since January 30, 2018, it had 0 insider purchases, and 6 insider sales for $12.52 million activity. 2,000 shares were sold by SCLAFANI JOSEPH L, worth $105,500 on Tuesday, January 30. The insider Simonich Brent sold 7,680 shares worth $407,040. 115,059 shares valued at $5.96M were sold by Roessner Karl A on Wednesday, February 7. On Wednesday, February 7 the insider Curcio Michael John sold $1.77 million. Pizzi Michael A. sold $3.60 million worth of stock.

Rob Butts decreased its stake in E Trade Financial Corp (ETFC) by 20% based on its latest 2017Q4 regulatory filing with the SEC. Southpoint Capital Advisors Lp sold 750,000 shares as the company’s stock rose 8.77% while stock markets declined. The hedge fund run by Rob Butts held 3.00M shares of the savings institutions company at the end of 2017Q4, valued at $148.71M, down from 3.75 million at the end of the previous reported quarter. Southpoint Capital Advisors Lp who had been investing in E Trade Financial Corp for a number of months, seems to be less bullish one the $15.32 billion market cap company. The stock increased 1.49% or $0.85 during the last trading session, reaching $57.81. About 760,715 shares traded. E*TRADE Financial Corporation (NASDAQ:ETFC) has risen 61.16% since April 16, 2017 and is uptrending. It has outperformed by 49.61% the S&P500.

Southpoint Capital Advisors Lp, which manages about $2.99B and $2.10 billion US Long portfolio, upped its stake in Visa Inc (NYSE:V) by 125,000 shares to 525,000 shares, valued at $59.86 million in 2017Q4, according to the filing. It also increased its holding in Leidos Hldgs Inc (NYSE:LDOS) by 731,012 shares in the quarter, for a total of 2.70M shares, and has risen its stake in Regeneron Pharmaceuticals (NASDAQ:REGN).

Analysts await E*TRADE Financial Corporation (NASDAQ:ETFC) to report earnings on April, 19. They expect $0.75 earnings per share, up 56.25 % or $0.27 from last year’s $0.48 per share. ETFC’s profit will be $198.81 million for 19.27 P/E if the $0.75 EPS becomes a reality. After $0.64 actual earnings per share reported by E*TRADE Financial Corporation for the previous quarter, Wall Street now forecasts 17.19 % EPS growth.

E*TRADE Financial Corporation (NASDAQ:ETFC) Ratings Coverage

Among 14 analysts covering E*Trade Financial (NASDAQ:ETFC), 12 have Buy rating, 0 Sell and 2 Hold. Therefore 86% are positive. E*Trade Financial had 31 analyst reports since October 20, 2017 according to SRatingsIntel. The stock of E*TRADE Financial Corporation (NASDAQ:ETFC) has “Hold” rating given on Tuesday, April 10 by Jefferies. The firm earned “Overweight” rating on Wednesday, January 3 by Morgan Stanley. The stock has “Hold” rating by Sandler O’Neill on Friday, January 26. Keefe Bruyette & Woods maintained E*TRADE Financial Corporation (NASDAQ:ETFC) on Thursday, December 21 with “Hold” rating. The firm earned “Buy” rating on Wednesday, October 25 by Deutsche Bank. As per Thursday, December 14, the company rating was maintained by SunTrust. Keefe Bruyette & Woods maintained E*TRADE Financial Corporation (NASDAQ:ETFC) rating on Wednesday, April 11. Keefe Bruyette & Woods has “Buy” rating and $6400 target. The rating was maintained by Wells Fargo with “Outperform” on Friday, October 20. The rating was maintained by Morgan Stanley on Tuesday, January 30 with “Overweight”. Deutsche Bank maintained E*TRADE Financial Corporation (NASDAQ:ETFC) rating on Friday, April 6. Deutsche Bank has “Buy” rating and $63 target.

E*TRADE Financial Corporation (NASDAQ:ETFC) Institutional Positions Chart

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