Janney Montgomery Scott LLC Trims Stock Holdings in Capital One Financial Corporation $COF

Key Points

• Janney Montgomery Scott reduced its Capital One Financial holdings by 9.3% in the second quarter, selling 12,868 shares and retaining 125,966 shares valued at approximately $25.3 million. Institutional investors collectively own 89.84% of COF.
• Capital One reported quarterly earnings of $5.81 per share, exceeding estimates of $4.79, while revenue rose 26.9% year over year to $15.83 billion. The company declared a quarterly dividend of $0.80 per share, equivalent to a 1.4% annualized yield.
• Analysts maintain a generally positive outlook, with 21 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and a target price of $259.36. Shares opened at $227.19, below the 12-month high of $259.64.

Janney Montgomery Scott LLC lowered its holdings in Capital One Financial Corporation (NYSE:COF) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,966 shares of the financial services provider's stock after selling 12,868 shares during the period. Janney Montgomery Scott LLC's holdings in Capital One Financial were worth $25,271,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of COF. Norges Bank bought a new position in Capital One Financial in the 4th quarter worth approximately $2,089,803,000. Viking Global Investors LP raised its holdings in Capital One Financial by 30.3% during the 3rd quarter. Viking Global Investors LP now owns 7,388,506 shares of the financial services provider's stock valued at $1,570,649,000 after acquiring an additional 1,717,148 shares during the period. Bessemer Group Inc. lifted its position in shares of 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 acquiring an additional 1,428,133 shares in the last quarter. AQR Capital Management LLC lifted its position 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 acquiring an additional 1,324,845 shares in the last quarter. Finally, Amundi lifted its position in shares of Capital One Financial by 41.5% during the first quarter. Amundi now owns 3,067,354 shares of the financial services provider's stock worth $559,577,000 after acquiring an additional 899,409 shares in the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Capital One Financial

In other Capital One Financial news, insider Michael Zamsky sold 5,473 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $218.02, for a total value of $1,193,223.46. Following the completion of the transaction, the insider owned 27,992 shares of the company's stock, valued at $6,102,815.84. The trade was a 16.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ravi Raghu sold 9,726 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $209.78, for a total transaction of $2,040,320.28. Following the completion of the transaction, the insider directly owned 26,328 shares in the company, valued at $5,523,087.84. The trade was a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,186 shares of company stock worth $4,697,301 in the last 90 days. 0.78% of the stock is currently owned by corporate insiders.

Capital One Financial Stock Performance

Shares of COF opened at $227.19 on Friday. The company has a market cap of $139.37 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $204.93 and a 200-day moving average price of $198.21. Capital One Financial Corporation has a 12-month low of $174.24 and a 12-month high of $259.64.

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

Capital One Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COF. BTIG Research lifted their price target on Capital One Financial from $224.00 to $259.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Wall Street Zen cut Capital One Financial from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. HSBC upgraded Capital One Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from $226.00 to $229.00 in a research note on Sunday, July 12th. TD Cowen reduced their target price 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. Finally, 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. Twenty-one equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

Want to see what other hedge funds are holding COF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Capital One Financial Corporation (NYSE:COF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source