Pinnacle Associates Ltd. Grows Holdings in Capital One Financial Corporation $COF

Pinnacle Associates Ltd. lifted its stake in shares of Capital One Financial Corporation (NYSE:COF) by 186.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 46,227 shares of the financial services provider’s stock after acquiring an additional 30,076 shares during the period. Pinnacle Associates Ltd.’s holdings in Capital One Financial were worth $9,835,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Capital One Financial by 588,668.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 117,447,497 shares of the financial services provider’s stock worth $24,988,129,000 after acquiring an additional 117,427,549 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Capital One Financial by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 32,250,923 shares of the financial services provider’s stock worth $5,782,590,000 after acquiring an additional 506,105 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Capital One Financial by 23.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,961,063 shares of the financial services provider’s stock worth $889,519,000 after acquiring an additional 950,415 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Capital One Financial by 18.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,766,573 shares of the financial services provider’s stock worth $854,647,000 after acquiring an additional 734,939 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Capital One Financial by 45.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,677,128 shares of the financial services provider’s stock worth $838,609,000 after acquiring an additional 1,454,595 shares during the period. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Richard D. Fairbank sold 103,486 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $225.68, for a total transaction of $23,354,720.48. Following the completion of the sale, the chief executive officer owned 4,051,228 shares of the company’s stock, valued at approximately $914,281,135.04. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Matthew W. Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $211.99, for a total transaction of $423,980.00. Following the sale, the general counsel directly owned 98,486 shares of the company’s stock, valued at $20,878,047.14. The trade was a 1.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 116,670 shares of company stock worth $26,153,969 over the last three months. Insiders own 1.26% of the company’s stock.

Capital One Financial Stock Up 0.8%

Shares of NYSE:COF opened at $220.10 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Capital One Financial Corporation has a 52-week low of $143.22 and a 52-week high of $232.45. The company has a 50 day moving average of $219.83 and a two-hundred day moving average of $207.46. The company has a market capitalization of $140.76 billion, a price-to-earnings ratio of 92.87, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18.

Capital One Financial (NYSE:COF) last issued its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.25 by $1.70. Capital One Financial had a net margin of 2.24% and a return on equity of 10.94%. The company had revenue of $15.36 billion during the quarter, compared to the consensus estimate of $15.06 billion. During the same quarter last year, the company earned $4.51 earnings per share. Capital One Financial’s revenue for the quarter was up 53.4% on a year-over-year basis. As a group, analysts forecast that Capital One Financial Corporation will post 15.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Capital One Financial from $240.00 to $255.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Redburn Atlantic raised shares of Capital One Financial to a “strong-buy” rating in a research report on Friday, August 1st. HSBC increased their target price on shares of Capital One Financial from $218.00 to $234.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods increased 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 report on Wednesday, July 23rd. Finally, Citigroup increased their target price on shares of Capital One Financial from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.63.

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.