Blume Capital Management Inc. cut its stake in shares of Capital One Financial Co. (NYSE:COF) by 11.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,056 shares of the financial services provider’s stock after selling 6,155 shares during the quarter. Capital One Financial makes up approximately 2.8% of Blume Capital Management Inc.’s portfolio, making the stock its 15th biggest position. Blume Capital Management Inc.’s holdings in Capital One Financial were worth $7,588,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Factorial Partners LLC raised its position in shares of Capital One Financial by 11,757.5% in the 1st quarter. Factorial Partners LLC now owns 5,229,153 shares of the financial services provider’s stock worth $41,100,000 after acquiring an additional 5,185,053 shares in the last quarter. Boston Partners bought a new position in shares of Capital One Financial in the 1st quarter worth about $391,013,000. BlackRock Inc. raised its position in shares of Capital One Financial by 8.5% in the 1st quarter. BlackRock Inc. now owns 35,838,764 shares of the financial services provider’s stock worth $4,559,766,000 after acquiring an additional 2,815,834 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Capital One Financial by 82.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 3,672,283 shares of the financial services provider’s stock worth $467,225,000 after acquiring an additional 1,664,114 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Capital One Financial by 192.6% in the 1st quarter. Prudential Financial Inc. now owns 1,655,178 shares of the financial services provider’s stock worth $210,588,000 after acquiring an additional 1,089,590 shares in the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on COF shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $180.00 target price (up from $170.00) on shares of Capital One Financial in a research report on Friday, July 23rd. Bank of America cut their price target on Capital One Financial from $194.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, July 23rd. Piper Sandler lifted their price target on Capital One Financial from $170.00 to $177.00 and gave the company an “overweight” rating in a research note on Friday, July 23rd. Morgan Stanley lifted their price target on Capital One Financial from $174.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Finally, Zacks Investment Research upgraded Capital One Financial from a “hold” rating to a “strong-buy” rating and set a $187.00 price target for the company in a research note on Tuesday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Capital One Financial has a consensus rating of “Buy” and an average price target of $166.27.
Capital One Financial (NYSE:COF) last released its quarterly earnings results on Thursday, July 22nd. The financial services provider reported $7.71 earnings per share for the quarter, topping the consensus estimate of $4.78 by $2.93. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.13 billion. Capital One Financial had a net margin of 37.90% and a return on equity of 19.07%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.21) earnings per share. As a group, analysts predict that Capital One Financial Co. will post 24.3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Monday, August 9th were issued a $0.60 dividend. The ex-dividend date was Friday, August 6th. This represents a $2.40 annualized dividend and a dividend yield of 1.53%. This is a boost from Capital One Financial’s previous quarterly dividend of $0.40. Capital One Financial’s dividend payout ratio is presently 41.45%.
In related news, insider Robert M. Alexander sold 12,267 shares of the stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $174.23, for a total value of $2,137,279.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Slocum sold 53,817 shares of the stock in a transaction on Tuesday, July 27th. The shares were sold at an average price of $161.80, for a total value of $8,707,590.60. Following the completion of the transaction, the insider now directly owns 81,092 shares in the company, valued at approximately $13,120,685.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 285,073 shares of company stock worth $46,279,480. Insiders own 1.31% of the company’s stock.
Capital One Financial Profile
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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