State of Michigan Retirement System grew its stake in Capital One Financial Corp. (NYSE:COF) by 9.0% during the second quarter, Holdings Channel.com reports. The fund owned 116,304 shares of the financial services provider’s stock after acquiring an additional 9,556 shares during the period. State of Michigan Retirement System’s holdings in Capital One Financial were worth $7,279,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Davis Selected Advisers increased its holdings in Capital One Financial by 20.9% in the 1st quarter. Davis Selected Advisers now owns 15,994,663 shares of the financial services provider’s stock valued at $806,451,000 after purchasing an additional 2,769,648 shares during the last quarter. Aristotle Capital Management LLC lifted its stake in Capital One Financial by 3.5% during the first quarter. Aristotle Capital Management LLC now owns 6,461,272 shares of the financial services provider’s stock worth $325,777,000 after purchasing an additional 217,936 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Capital One Financial by 1.6% during the first quarter. Pzena Investment Management LLC now owns 5,642,681 shares of the financial services provider’s stock worth $284,504,000 after buying an additional 90,944 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Capital One Financial by 7.4% in the first quarter. Bank of New York Mellon Corp now owns 4,742,096 shares of the financial services provider’s stock valued at $239,096,000 after buying an additional 327,288 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Capital One Financial by 2.2% in the first quarter. Legal & General Group Plc now owns 3,156,697 shares of the financial services provider’s stock valued at $159,896,000 after buying an additional 68,369 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.
In related news, insider Timothy P. Golden sold 3,334 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $57.63, for a total value of $192,138.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.47% of the stock is owned by company insiders.
Shares of NYSE COF opened at $63.80 on Friday. The stock’s 50-day simple moving average is $64.43 and its 200-day simple moving average is $72.37. The firm has a market capitalization of $29.05 billion, a PE ratio of -172.43 and a beta of 1.75. Capital One Financial Corp. has a fifty-two week low of $38.00 and a fifty-two week high of $107.59. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.96 and a current ratio of 0.96.
Capital One Financial (NYSE:COF) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported ($2.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.25) by ($0.96). Capital One Financial had a net margin of 0.74% and a return on equity of 1.67%. The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.88 billion. During the same quarter in the prior year, the company earned $3.24 earnings per share. On average, sell-side analysts forecast that Capital One Financial Corp. will post -2.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, August 7th. Capital One Financial’s dividend payout ratio (DPR) is 13.23%.
COF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Capital One Financial from $114.50 to $62.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Deutsche Bank dropped their price objective on shares of Capital One Financial from $76.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, July 22nd. Credit Suisse Group cut their target price on shares of Capital One Financial from $75.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Oppenheimer raised their price target on shares of Capital One Financial from $63.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler upped their price objective on Capital One Financial from $77.00 to $82.00 in a research report on Wednesday, July 22nd. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Capital One Financial presently has an average rating of “Buy” and a consensus price target of $85.47.
Capital One Financial Profile
Capital One Financial Corporation operates as the bank holding company for the Capital One Bank (USA), National Association; and Capital One, National Association, which provides various financial products and services in the United States, the United Kingdom, and Canada. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.
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