Teacher Retirement System of Texas trimmed its position in shares of Capital One Financial Corp. (NYSE:COF) by 62.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 390,909 shares of the financial services provider’s stock after selling 659,260 shares during the period. Teacher Retirement System of Texas owned about 0.08% of Capital One Financial worth $38,927,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Davis Selected Advisers boosted its holdings in Capital One Financial by 43.7% in the third quarter. Davis Selected Advisers now owns 11,581,237 shares of the financial services provider’s stock worth $980,149,000 after acquiring an additional 3,519,332 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of Capital One Financial by 1,256.0% in the fourth quarter. APG Asset Management N.V. now owns 1,851,401 shares of the financial services provider’s stock worth $153,533,000 after purchasing an additional 1,714,867 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Capital One Financial by 49,032.3% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,479,866 shares of the financial services provider’s stock worth $147,365,000 after purchasing an additional 1,476,854 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Capital One Financial by 229.4% in the third quarter. Point72 Asset Management L.P. now owns 1,647,291 shares of the financial services provider’s stock worth $139,460,000 after purchasing an additional 1,147,191 shares during the last quarter. Finally, Cornerstone Investment Partners LLC increased its position in Capital One Financial by 87.9% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,045,312 shares of the financial services provider’s stock valued at $203,672,000 after acquiring an additional 956,815 shares during the last quarter. 89.16% of the stock is currently owned by institutional investors.
In other Capital One Financial news, Director Ann F. Hackett sold 7,000 shares of Capital One Financial stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $98.00, for a total transaction of $686,000.00. Following the completion of the transaction, the director now owns 65,011 shares in the company, valued at approximately $6,371,078. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard D. Fairbank sold 485,202 shares of Capital One Financial stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $105.09, for a total value of $50,989,878.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 954,948 shares of company stock valued at $97,433,019. 1.73% of the stock is currently owned by insiders.
Capital One Financial (NYSE:COF) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.62 EPS for the quarter, missing the Zacks’ consensus estimate of $1.85 by ($0.23). Capital One Financial had a return on equity of 8.36% and a net margin of 6.89%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the firm posted $1.45 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. equities research analysts forecast that Capital One Financial Corp. will post 9.72 EPS for the current year.
Capital One Financial announced that its board has approved a stock buyback program on Tuesday, December 26th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.63%. Capital One Financial’s dividend payout ratio is currently 42.44%.
A number of research firms recently commented on COF. BMO Capital Markets reiterated an “outperform” rating and set a $140.00 price objective on shares of Capital One Financial in a research report on Wednesday, January 24th. Oppenheimer restated a “hold” rating on shares of Capital One Financial in a research report on Tuesday, October 24th. Morgan Stanley upped their price objective on Capital One Financial from $110.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Credit Suisse Group upped their price objective on Capital One Financial from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Wedbush raised Capital One Financial from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $106.14.
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About Capital One Financial
Capital One Financial Corporation is a diversified financial services holding company. The Company, along with its subsidiaries, offers a range of financial products and services to consumers, small businesses and commercial clients through branches, the Internet and other distribution channels. The Company’s segments include Credit Card, Consumer Banking, Commercial Banking and Other.
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