Beacon Investment Advisory Services Inc. purchased a new position in shares of Capital One Financial Corporation (NYSE:COF) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,999 shares of the financial services provider’s stock, valued at approximately $338,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Davis Selected Advisers grew its holdings in Capital One Financial by 112.8% in the 2nd quarter. Davis Selected Advisers now owns 8,061,905 shares of the financial services provider’s stock valued at $666,075,000 after buying an additional 4,274,053 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Capital One Financial by 107.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,989,104 shares of the financial services provider’s stock valued at $164,340,000 after buying an additional 1,031,829 shares in the last quarter. Pzena Investment Management LLC grew its holdings in Capital One Financial by 28.1% in the 2nd quarter. Pzena Investment Management LLC now owns 4,041,646 shares of the financial services provider’s stock valued at $333,921,000 after buying an additional 885,934 shares in the last quarter. Capital World Investors grew its holdings in Capital One Financial by 2.3% in the 2nd quarter. Capital World Investors now owns 38,396,005 shares of the financial services provider’s stock valued at $3,172,278,000 after buying an additional 849,047 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Capital One Financial by 153.3% in the 2nd quarter. Renaissance Technologies LLC now owns 989,099 shares of the financial services provider’s stock valued at $81,719,000 after buying an additional 598,600 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.
In related news, Director Ann F. Hackett sold 11,055 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $91.18, for a total transaction of $1,007,994.90. Following the transaction, the director now owns 69,066 shares of the company’s stock, valued at approximately $6,297,437.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bradford H. Warner sold 7,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $94.94, for a total value of $664,580.00. Following the transaction, the director now directly owns 57,085 shares in the company, valued at approximately $5,419,649.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,868 shares of company stock worth $12,378,192. 1.73% of the stock is owned by corporate insiders.
Capital One Financial (NYSE:COF) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $2.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.27. Capital One Financial had a return on equity of 8.25% and a net margin of 13.34%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the company posted $2.03 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. sell-side analysts expect that Capital One Financial Corporation will post 7.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Monday, November 13th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, November 10th. Capital One Financial’s payout ratio is 22.63%.
Several analysts have issued reports on COF shares. Robert W. Baird restated a “hold” rating and issued a $84.00 target price on shares of Capital One Financial in a report on Tuesday, September 5th. Morgan Stanley cut Capital One Financial from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $97.00 to $83.00 in a report on Friday, September 8th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $106.00 target price on shares of Capital One Financial in a report on Friday, September 15th. Zacks Investment Research cut Capital One Financial from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Finally, Piper Jaffray Companies started coverage on Capital One Financial in a report on Thursday, September 21st. They issued an “underweight” rating and a $81.00 target price for the company. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $96.24.
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Capital One Financial Profile
Capital One Financial Corporation is a diversified financial services holding company. The Company, along with its subsidiaries, offers a range of financial products and services to consumers, small businesses and commercial clients through branches, the Internet and other distribution channels. The Company’s segments include Credit Card, Consumer Banking, Commercial Banking and Other.
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