Virginia Retirement Systems ET AL boosted its position in Capital One Financial Co. (NYSE:COF) by 21.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,701 shares of the financial services provider’s stock after acquiring an additional 22,200 shares during the period. Virginia Retirement Systems ET AL’s holdings in Capital One Financial were worth $19,135,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. GenTrust LLC bought a new position in Capital One Financial in the first quarter valued at $2,524,000. Calamos Advisors LLC increased its holdings in Capital One Financial by 29.4% in the 2nd quarter. Calamos Advisors LLC now owns 228,695 shares of the financial services provider’s stock valued at $35,377,000 after buying an additional 52,013 shares during the period. Pinnacle Associates Ltd. grew its holdings in shares of Capital One Financial by 14.8% during the 2nd quarter. Pinnacle Associates Ltd. now owns 16,429 shares of the financial services provider’s stock valued at $2,541,000 after purchasing an additional 2,122 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Capital One Financial by 0.6% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 139,777 shares of the financial services provider’s stock worth $17,784,000 after buying an additional 900 shares during the period. Finally, MKP Capital Management L.L.C. bought a new position in Capital One Financial during the 1st quarter worth $4,045,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.
In related news, insider Yajnik Sanjiv sold 451 shares of the firm’s stock in a transaction dated Monday, September 27th. The shares were sold at an average price of $170.00, for a total value of $76,670.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Slocum sold 53,817 shares of the company’s stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $161.80, for a total value of $8,707,590.60. Following the completion of the sale, the insider now owns 81,092 shares in the company, valued at approximately $13,120,685.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 305,524 shares of company stock worth $49,663,550. Insiders own 1.31% of the company’s stock.
Capital One Financial (NYSE:COF) last released its quarterly earnings data on Thursday, July 22nd. The financial services provider reported $7.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $2.93. Capital One Financial had a net margin of 37.90% and a return on equity of 19.07%. The company had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter last year, the company earned ($2.21) earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts forecast that Capital One Financial Co. will post 24.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Monday, August 9th were issued a $0.60 dividend. This is an increase from Capital One Financial’s previous quarterly dividend of $0.40. This represents a $2.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Friday, August 6th. Capital One Financial’s dividend payout ratio is presently 41.45%.
Several research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Capital One Financial from $165.00 to $175.00 and gave the stock a “sector perform” rating in a research report on Friday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $180.00 price objective (up from $170.00) on shares of Capital One Financial in a research report on Friday, July 23rd. Stephens upped their price objective on Capital One Financial from $152.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, July 23rd. Piper Sandler boosted their target price on Capital One Financial from $177.00 to $188.00 and gave the company an “overweight” rating in a research report on Tuesday, October 5th. Finally, Zacks Investment Research raised shares of Capital One Financial from a “hold” rating to a “strong-buy” rating and set a $187.00 target price on the stock in a research report on Tuesday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $170.10.
About Capital One Financial
Capital One Financial Corp. operates as a financial holding company. The firm engages in the provision of financial products and services. It operates through the following segments: Credit Card, Consumer Banking and Commercial Banking. The Credit Card segment offers domestic consumer and small business card lending, and international card lending businesses.
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