Candriam Luxembourg S.C.A. Decreases Holdings in Capital One Financial Corp. (COF)
Candriam Luxembourg S.C.A. trimmed its holdings in Capital One Financial Corp. (NYSE:COF) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 147,469 shares of the financial services provider’s stock after selling 7,882 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Capital One Financial were worth $14,685,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in Capital One Financial in the 4th quarter worth approximately $127,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Capital One Financial during the 4th quarter valued at approximately $141,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Capital One Financial during the 4th quarter valued at approximately $209,000. Lowe Brockenbrough & Co. Inc. purchased a new stake in shares of Capital One Financial during the 4th quarter valued at approximately $213,000. Finally, Abner Herrman & Brock LLC purchased a new stake in shares of Capital One Financial during the 4th quarter valued at approximately $219,000. 89.16% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on COF. BMO Capital Markets reaffirmed an “outperform” rating and set a $140.00 price target on shares of Capital One Financial in a research report on Wednesday, January 24th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $117.00 price target (up previously from $112.00) on shares of Capital One Financial in a research report on Wednesday, January 24th. Credit Suisse Group lifted their price target on shares of Capital One Financial from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Buckingham Research lifted their price target on shares of Capital One Financial from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $110.00 price target on shares of Capital One Financial in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Capital One Financial currently has an average rating of “Hold” and an average target price of $106.14.
Capital One Financial (NYSE:COF) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.23). Capital One Financial had a net margin of 6.89% and a return on equity of 8.36%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the business posted $1.45 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. equities analysts expect that Capital One Financial Corp. will post 9.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 12th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.60 annualized dividend and a yield of 1.68%. Capital One Financial’s dividend payout ratio (DPR) is presently 46.38%.
Capital One Financial declared that its board has approved a stock buyback program on Tuesday, December 26th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, CEO Richard D. Fairbank sold 485,202 shares of Capital One Financial stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $105.09, for a total value of $50,989,878.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finneran, Jr. sold 67,892 shares of Capital One Financial stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $105.03, for a total transaction of $7,130,696.76. Following the completion of the sale, the insider now owns 96,551 shares of the company’s stock, valued at approximately $10,140,751.53. The disclosure for this sale can be found here. Insiders sold a total of 954,948 shares of company stock valued at $97,433,019 in the last quarter. 1.73% of the stock is owned by insiders.
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Capital One Financial Company Profile
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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