New York Life Investment Management LLC Lowers Stock Position in Capital One Financial Corporation $COF

New York Life Investment Management LLC trimmed its holdings in shares of Capital One Financial Corporation (NYSE:COF) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,216 shares of the financial services provider’s stock after selling 2,462 shares during the period. New York Life Investment Management LLC’s holdings in Capital One Financial were worth $19,816,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Earned Wealth Advisors LLC purchased a new stake in Capital One Financial in the second quarter valued at approximately $254,000. Cortland Associates Inc. MO purchased a new position in Capital One Financial during the third quarter worth approximately $14,391,000. CIBC Asset Management Inc boosted its holdings in shares of Capital One Financial by 53.9% in the 2nd quarter. CIBC Asset Management Inc now owns 88,505 shares of the financial services provider’s stock valued at $18,830,000 after purchasing an additional 30,991 shares during the last quarter. Meridian Wealth Management LLC grew its stake in shares of Capital One Financial by 334.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 9,404 shares of the financial services provider’s stock valued at $1,999,000 after buying an additional 7,241 shares during the period. Finally, Montecito Bank & Trust acquired a new stake in shares of Capital One Financial during the 3rd quarter worth $647,000. 89.84% of the stock is owned by institutional investors and hedge funds.

Capital One Financial Stock Performance

Capital One Financial stock opened at $222.72 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.04. Capital One Financial Corporation has a one year low of $143.22 and a one year high of $259.64. The stock’s 50 day moving average price is $235.54 and its 200 day moving average price is $223.57. The firm has a market capitalization of $141.59 billion, a PE ratio of 75.24, a price-to-earnings-growth ratio of 0.66 and a beta of 1.14.

Capital One Financial (NYSE:COF) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $3.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.28). Capital One Financial had a net margin of 3.54% and a return on equity of 10.68%. The firm had revenue of $15.62 billion for the quarter, compared to analysts’ expectations of $15.49 billion. During the same quarter in the prior year, the business earned $2.67 EPS. The company’s revenue for the quarter was up 53.3% on a year-over-year basis. As a group, sell-side analysts expect that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 19th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, February 19th. Capital One Financial’s dividend payout ratio is presently 108.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COF shares. JPMorgan Chase & Co. lifted their target price on Capital One Financial from $237.00 to $256.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Capital One Financial in a report on Monday, December 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $300.00 target price on shares of Capital One Financial in a report on Tuesday, January 6th. HSBC cut their price target on shares of Capital One Financial from $234.00 to $226.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. Finally, BTIG Research decreased their price objective on shares of Capital One Financial from $308.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $274.70.

Insider Activity at Capital One Financial

In other Capital One Financial news, General Counsel Matthew W. Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the completion of the sale, the general counsel owned 92,486 shares in the company, valued at $23,121,500. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ravi Raghu sold 13,450 shares of Capital One Financial stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $250.00, for a total value of $3,362,500.00. Following the sale, the insider owned 30,337 shares in the company, valued at $7,584,250. This represents a 30.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 52,114 shares of company stock valued at $12,092,070. 1.26% of the stock is currently owned by insiders.

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.