QRG Capital Management Inc. Increases Stock Position in Capital One Financial Corporation $COF

QRG Capital Management Inc. grew its holdings in Capital One Financial Corporation (NYSE:COF) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,206 shares of the financial services provider’s stock after purchasing an additional 6,279 shares during the quarter. QRG Capital Management Inc.’s holdings in Capital One Financial were worth $16,274,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Capital One Financial by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 56,897,238 shares of the financial services provider’s stock worth $13,789,615,000 after purchasing an additional 360,071 shares during the last quarter. Franklin Resources Inc. grew its holdings in Capital One Financial by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 12,476,462 shares of the financial services provider’s stock valued at $3,023,795,000 after buying an additional 638,158 shares during the last quarter. Morgan Stanley grew its holdings in Capital One Financial by 3.9% during the 4th quarter. Morgan Stanley now owns 8,677,981 shares of the financial services provider’s stock valued at $2,103,196,000 after buying an additional 323,350 shares during the last quarter. Norges Bank purchased a new position in Capital One Financial during the fourth quarter worth $2,089,803,000. Finally, Davis Selected Advisers increased its position in Capital One Financial by 2.8% during the fourth quarter. Davis Selected Advisers now owns 8,614,766 shares of the financial services provider’s stock worth $2,087,878,000 after buying an additional 234,649 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COF has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Capital One Financial in a research report on Wednesday, June 24th. Evercore dropped their price objective on Capital One Financial from $265.00 to $222.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. BTIG Research boosted their target price on shares of Capital One Financial from $224.00 to $259.00 and gave the company a “buy” rating in a research note on Tuesday. Rothschild & Co Redburn cut their target price on shares of Capital One Financial from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Morgan Stanley reduced their target price on shares of Capital One Financial from $300.00 to $273.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $260.19.

Insider Activity

In other news, insider Celia Karam sold 1,749 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $192.58, for a total transaction of $336,822.42. Following the completion of the transaction, the insider owned 61,579 shares of the company’s stock, valued at $11,858,883.82. This represents a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Matthew W. Cooper sold 3,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $183.93, for a total transaction of $643,755.00. Following the transaction, the general counsel owned 97,194 shares in the company, valued at approximately $17,876,892.42. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.78% of the stock is owned by insiders.

Capital One Financial Price Performance

COF stock opened at $204.94 on Friday. Capital One Financial Corporation has a 52-week low of $174.24 and a 52-week high of $259.64. The stock’s fifty day simple moving average is $191.12 and its 200-day simple moving average is $204.84. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $127.53 billion, a price-to-earnings ratio of 71.91, a price-to-earnings-growth ratio of 0.74 and a beta of 1.02.

Capital One Financial (NYSE:COF) last released its earnings results on Tuesday, April 21st. The financial services provider reported $4.42 EPS for the quarter, missing the consensus estimate of $5.08 by ($0.66). Capital One Financial had a net margin of 4.29% and a return on equity of 10.59%. The business had revenue of $15.23 billion during the quarter, compared to analyst estimates of $15.68 billion. During the same quarter in the previous year, the company posted $4.06 earnings per share. The business’s revenue for the quarter was up 52.3% compared to the same quarter last year. Equities research analysts expect that Capital One Financial Corporation will post 19.53 EPS for the current year.

Capital One Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were issued a $0.80 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $3.20 annualized dividend and a yield of 1.6%. Capital One Financial’s payout ratio is 112.28%.

About Capital One Financial

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.