Ascent Group LLC Sells 6,918 Shares of Capital One Financial Corporation $COF

Key Points

• Ascent Group LLC reduced its Capital One Financial position by 27.1% in the second quarter, selling 6,918 shares and retaining 18,630 shares valued at approximately $3.74 million.
• Other major institutional investors increased their stakes, and institutional ownership reached 89.84% of Capital One’s outstanding stock.
• Capital One reported quarterly EPS of $5.81, exceeding estimates by $1.02, while revenue rose 26.9% year over year to $15.83 billion. The company also announced a quarterly dividend of $0.80 per share, and analysts maintain a “Moderate Buy” consensus rating.

Ascent Group LLC lessened its position in Capital One Financial Corporation (NYSE:COF) by 27.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,630 shares of the financial services provider's stock after selling 6,918 shares during the period. Ascent Group LLC's holdings in Capital One Financial were worth $3,738,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in COF. Norges Bank bought a new position in Capital One Financial during the 4th quarter valued at about $2,089,803,000. Viking Global Investors LP grew its stake in Capital One Financial by 30.3% during the third quarter. Viking Global Investors LP now owns 7,388,506 shares of the financial services provider's stock worth $1,570,649,000 after buying an additional 1,717,148 shares during the last quarter. Bessemer Group Inc. grew its stake in Capital One Financial by 7,143.2% during the fourth quarter. Bessemer Group Inc. now owns 1,448,126 shares of the financial services provider's stock worth $350,966,000 after buying an additional 1,428,133 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Capital One Financial by 64.9% during the fourth quarter. AQR Capital Management LLC now owns 3,366,692 shares of the financial services provider's stock worth $815,951,000 after buying an additional 1,324,845 shares in the last quarter. Finally, Amundi raised its stake in shares of Capital One Financial by 41.5% in the first quarter. Amundi now owns 3,067,354 shares of the financial services provider's stock valued at $559,577,000 after acquiring an additional 899,409 shares during the last quarter. Institutional investors own 89.84% of the company's stock.

Capital One Financial Price Performance

Capital One Financial stock opened at $227.19 on Friday. The business's 50-day simple moving average is $204.93 and its 200 day simple moving average is $198.21. The stock has a market cap of $139.38 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 0.82 and a beta of 1.02. Capital One Financial Corporation has a 12-month low of $174.24 and a 12-month high of $259.64. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.39.

Capital One Financial (NYSE:COF - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.79 by $1.02. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. The company had revenue of $15.83 billion for the quarter, compared to analyst estimates of $15.76 billion. During the same quarter last year, the firm earned $5.48 EPS. The company's revenue for the quarter was up 26.9% on a year-over-year basis. As a group, research analysts anticipate that Capital One Financial Corporation will post 20.19 earnings per share for the current year.

Capital One Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 17th. Capital One Financial's payout ratio is currently 19.80%.

Insider Buying and Selling at Capital One Financial

In other news, insider Ravi Raghu sold 9,726 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $209.78, for a total value of $2,040,320.28. Following the transaction, the insider directly owned 26,328 shares in the company, valued at $5,523,087.84. This trade represents a 26.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Timothy P. Golden sold 3,487 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $211.00, for a total value of $735,757.00. Following the completion of the transaction, the chief accounting officer owned 7,429 shares in the company, valued at $1,567,519. This represents a 31.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,186 shares of company stock worth $4,697,301 over the last quarter. 0.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler assumed coverage on Capital One Financial in a research report on Monday, June 29th. They set an "overweight" rating and a $254.00 price target on the stock. Wall Street Zen lowered Capital One Financial from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. UBS Group boosted their price objective on Capital One Financial from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Truist Financial decreased their target price on Capital One Financial from $275.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Finally, TD Cowen cut their price target on Capital One Financial from $260.00 to $253.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.36.

Capital One Financial Company Profile

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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