Hartford Investment Management Co. Raises Stock Holdings in Capital One Financial Corporation $COF

Key Points

• Hartford Investment Management Co. increased its stake in Capital One Financial Corporation by 66.0% during the second quarter, owning 38,549 shares worth approximately $8.2 million.
• Capital One Financial reported $5.48 earnings per share for the last quarter, significantly surpassing analyst expectations of $1.93, with a year-over-year revenue increase of 31.4%.
• The company also announced a quarterly dividend of $0.60 per share, resulting in an annual yield of 1.1%, despite a dividend payout ratio of 123.08%.

Hartford Investment Management Co. boosted its stake in Capital One Financial Corporation (NYSE:COF) by 66.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,549 shares of the financial services provider's stock after buying an additional 15,323 shares during the period. Hartford Investment Management Co.'s holdings in Capital One Financial were worth $8,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in Capital One Financial by 330.1% during the fourth quarter. Brighton Jones LLC now owns 13,587 shares of the financial services provider's stock worth $2,423,000 after purchasing an additional 10,428 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Capital One Financial by 14.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,230 shares of the financial services provider's stock worth $4,677,000 after purchasing an additional 3,226 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Capital One Financial during the fourth quarter worth about $108,000. MassMutual Private Wealth & Trust FSB increased its stake in Capital One Financial by 2.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 9,516 shares of the financial services provider's stock worth $1,706,000 after purchasing an additional 234 shares during the period. Finally, Kera Capital Partners Inc. purchased a new stake in Capital One Financial during the first quarter worth about $212,000. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Capital One Financial Price Performance

COF stock opened at $222.42 on Friday. The company has a market capitalization of $142.24 billion, a P/E ratio of 114.06, a PEG ratio of 0.86 and a beta of 1.17. Capital One Financial Corporation has a twelve month low of $143.22 and a twelve month high of $232.45. The business has a 50 day simple moving average of $219.17 and a 200-day simple moving average of $198.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47.

Capital One Financial (NYSE:COF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share for the quarter, beating the consensus estimate of $1.93 by $3.55. The firm had revenue of $12.49 billion during the quarter, compared to analyst estimates of $12.72 billion. Capital One Financial's revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.14 earnings per share. As a group, equities analysts anticipate that Capital One Financial Corporation will post 15.65 EPS for the current year.

Capital One Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 15th. Capital One Financial's dividend payout ratio is presently 123.08%.

Insider Transactions at Capital One Financial

In other news, General Counsel Matthew W. Cooper sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $223.40, for a total value of $446,800.00. Following the completion of the sale, the general counsel directly owned 100,486 shares of the company's stock, valued at approximately $22,448,572.40. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert M. Alexander sold 10,114 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $227.86, for a total value of $2,304,576.04. Following the completion of the sale, the insider directly owned 68,707 shares of the company's stock, valued at $15,655,577.02. The trade was a 12.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,298 shares of company stock valued at $4,679,844 over the last ninety days. 1.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Capital One Financial from $245.00 to $248.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Rothschild & Co Redburn initiated coverage on shares of Capital One Financial in a research note on Friday, August 1st. They set a "buy" rating and a $290.00 target price on the stock. Truist Financial upped their target price on shares of Capital One Financial from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Keefe, Bruyette & Woods upped their target price on shares of Capital One Financial from $248.00 to $260.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their target price on shares of Capital One Financial from $240.00 to $255.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Capital One Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.44.

Capital One Financial Company Profile

Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.

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