State of New Jersey Common Pension Fund D Reduces Stake in Capital One Financial Corporation $COF

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Capital One Financial (NYSE:COF) by 8.8%, now owning shares worth $22.85 million.
• Capital One Financial's latest quarterly earnings surpassed analysts' expectations with earnings per share of $5.48, beating the consensus estimate of $1.93.
• Multiple analysts have expressed positive outlooks on Capital One Financial, with rating upgrades leading to price targets as high as $290.

State of New Jersey Common Pension Fund D reduced its stake in Capital One Financial Corporation (NYSE:COF - Free Report) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,413 shares of the financial services provider's stock after selling 12,274 shares during the period. State of New Jersey Common Pension Fund D's holdings in Capital One Financial were worth $22,845,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COF. Thompson Davis & CO. Inc. acquired a new stake in shares of Capital One Financial during the first quarter worth about $453,000. Ethic Inc. grew its stake in Capital One Financial by 7.5% in the 1st quarter. Ethic Inc. now owns 33,352 shares of the financial services provider's stock valued at $5,944,000 after buying an additional 2,315 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Capital One Financial by 31.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,739 shares of the financial services provider's stock worth $491,000 after purchasing an additional 661 shares during the last quarter. Aberdeen Group plc boosted its stake in Capital One Financial by 102.9% in the 1st quarter. Aberdeen Group plc now owns 272,154 shares of the financial services provider's stock valued at $48,158,000 after purchasing an additional 138,000 shares during the period. Finally, Horizon Investments LLC lifted its holdings in shares of Capital One Financial by 7.7% during the first quarter. Horizon Investments LLC now owns 16,344 shares of the financial services provider's stock worth $2,930,000 after buying an additional 1,167 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors and hedge funds.

Capital One Financial Trading Down 0.7%

Shares of NYSE COF traded down $1.5880 during trading on Tuesday, reaching $214.6120. The company had a trading volume of 2,432,129 shares, compared to its average volume of 4,443,277. The stock has a market cap of $137.25 billion, a P/E ratio of 110.06, a PEG ratio of 0.84 and a beta of 1.16. The company's fifty day moving average price is $211.51 and its 200-day moving average price is $193.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. Capital One Financial Corporation has a 12 month low of $131.55 and a 12 month high of $232.45.

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

Capital One Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. Capital One Financial's dividend payout ratio (DPR) is 123.08%.

Insider Activity

In other news, CAO Timothy P. Golden sold 3,462 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $210.28, for a total transaction of $727,989.36. Following the completion of the sale, the chief accounting officer owned 8,987 shares of the company's stock, valued at $1,889,786.36. This trade represents a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Zamsky sold 5,515 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $209.59, for a total transaction of $1,155,888.85. Following the transaction, the insider owned 27,364 shares in the company, valued at $5,735,220.76. The trade was a 16.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,091 shares of company stock valued at $4,188,454 in the last ninety days. 1.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COF. Redburn Atlantic raised Capital One Financial to a "strong-buy" rating in a report on Friday, August 1st. Wall Street Zen cut shares of Capital One Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Rothschild & Co Redburn began coverage on shares of Capital One Financial in a report on Friday, August 1st. They set a "buy" rating and a $290.00 price target on the stock. TD Cowen raised shares of Capital One Financial from a "hold" rating to a "buy" rating and increased their price objective for the company from $184.00 to $258.00 in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted 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. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $238.81.

Capital One Financial 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.