Arizona State Retirement System Reduces Holdings in Capital One Financial Corporation $COF

Key Points

• Arizona State Retirement System cut its Capital One Financial stake by 4.7% in the second quarter, selling 8,197 shares and retaining 165,992 shares worth about $33.3 million. Institutional investors and hedge funds collectively own 89.84% of COF.
• Capital One reported strong quarterly results, with earnings of $5.81 per share exceeding estimates of $4.79 and revenue of $15.83 billion. Revenue increased 26.9% year over year.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $258.91, compared with the reported share price of $214.10. The company also pays a quarterly dividend of $0.80, representing a 1.5% yield.

Arizona State Retirement System lowered its position in shares of Capital One Financial Corporation (NYSE:COF) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,992 shares of the financial services provider's stock after selling 8,197 shares during the period. Arizona State Retirement System's holdings in Capital One Financial were worth $33,301,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. West Family Investments Inc. lifted its stake in Capital One Financial by 219.4% in the second quarter. West Family Investments Inc. now owns 4,181 shares of the financial services provider's stock valued at $839,000 after buying an additional 2,872 shares during the last quarter. Waverly Advisors LLC grew its position in shares of Capital One Financial by 35.1% during the second quarter. Waverly Advisors LLC now owns 15,493 shares of the financial services provider's stock worth $3,108,000 after acquiring an additional 4,029 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Capital One Financial by 3.2% in the 2nd quarter. Empirical Finance LLC now owns 22,865 shares of the financial services provider's stock valued at $4,587,000 after acquiring an additional 718 shares during the period. Nykredit A S purchased a new stake in Capital One Financial in the 2nd quarter valued at $34,410,000. Finally, Range Advisory LLC boosted its stake in Capital One Financial by 6.2% during the 2nd quarter. Range Advisory LLC now owns 2,130 shares of the financial services provider's stock worth $427,000 after purchasing an additional 125 shares during the period. 89.84% of the stock is owned by institutional investors and hedge funds.

Capital One Financial Price Performance

Shares of NYSE:COF traded down $5.50 on Tuesday, reaching $214.10. 2,985,562 shares of the company were exchanged, compared to its average volume of 4,787,261. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. Capital One Financial Corporation has a 1-year low of $174.24 and a 1-year high of $259.64. The firm has a market cap of $131.35 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. The company has a 50-day moving average of $212.15 and a 200-day moving average of $198.09.

Capital One Financial (NYSE:COF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $5.81 EPS for the quarter, beating the consensus estimate of $4.79 by $1.02. The firm had revenue of $15.83 billion during the quarter, compared to analysts' expectations of $15.76 billion. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. The business's revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter last year, the business earned $5.48 earnings per share. Equities analysts forecast that Capital One Financial Corporation will post 20.29 earnings per share for the current fiscal year.

Capital One Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.20 annualized dividend and a yield of 1.5%. Capital One Financial's dividend payout ratio is 19.80%.

Insider Buying and Selling

In related news, General Counsel Matthew W. Cooper sold 3,500 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $214.10, for a total value of $749,350.00. Following the sale, the general counsel directly owned 83,194 shares of the company's stock, valued at approximately $17,811,835.40. This represents a 4.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Celia Karam sold 1,888 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $225.52, for a total transaction of $425,781.76. Following the transaction, the insider owned 59,708 shares of the company's stock, valued at $13,465,348.16. This trade represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,767 shares of company stock valued at $6,366,998 in the last three months. 0.78% of the stock is owned by insiders.

Wall Street Analyst Weigh In

COF has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Capital One Financial from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. HSBC raised Capital One Financial from a "hold" rating to a "buy" rating and upped their price objective for the company from $226.00 to $229.00 in a research note on Sunday, July 12th. Weiss Ratings upgraded Capital One Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. TD Cowen dropped their price objective on shares of Capital One Financial from $260.00 to $253.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Finally, UBS Group raised their target price on shares of Capital One Financial from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Twenty-one analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Capital One Financial currently has a consensus rating of "Moderate Buy" and an average price target of $258.91.

About Capital One Financial

Capital One Financial Corporation NYSE: COF is a diversified bank holding company headquartered in McLean, Virginia. The company's core businesses include credit card lending, consumer and commercial banking, and auto finance. Capital One issues a wide range of credit card products for consumers and small businesses, and it operates deposit and digital banking services aimed at retail customers and small to midsize enterprises.

Products and services include credit and charge cards, checking and savings accounts (including the online-focused Capital One 360 platform), auto loans, and commercial lending solutions.

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