Assenagon Asset Management S.A. Buys 340,491 Shares of Capital One Financial Corporation $COF

Key Points

• Assenagon Asset Management increased its Capital One Financial stake by 46.9% in the first quarter, buying 340,491 additional shares and lifting its holdings to 1,066,036 shares valued at about $194.5 million.
• Capital One reported quarterly earnings of $4.42 per share, missing analyst estimates of $5.08, while revenue of $15.23 billion also came in below expectations. Still, revenue rose 52.3% year over year.
• The company paid a quarterly dividend of $0.80 per share and now has an annualized payout of $3.20, representing a 1.6% yield. Analysts currently rate the stock a “Moderate Buy” with an average price target of $258.75.

Assenagon Asset Management S.A. boosted its stake in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 46.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,066,036 shares of the financial services provider's stock after acquiring an additional 340,491 shares during the period. Assenagon Asset Management S.A. owned 0.17% of Capital One Financial worth $194,477,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Capital One Financial by 330.1% in the fourth quarter. Brighton Jones LLC now owns 13,587 shares of the financial services provider's stock worth $2,423,000 after buying an additional 10,428 shares in the last quarter. Intech Investment Management LLC increased its stake in Capital One Financial by 44.3% in the 1st quarter. Intech Investment Management LLC now owns 8,968 shares of the financial services provider's stock worth $1,608,000 after acquiring an additional 2,753 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Capital One Financial by 118.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,300 shares of the financial services provider's stock worth $702,000 after acquiring an additional 1,788 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Capital One Financial during the 2nd quarter worth approximately $218,000. Finally, Jump Financial LLC bought a new position in shares of Capital One Financial during the 2nd quarter valued at approximately $1,086,000. 89.84% of the stock is currently owned by institutional investors.

Capital One Financial Price Performance

Shares of Capital One Financial stock opened at $200.37 on Thursday. The stock has a market cap of $124.69 billion, a price-to-earnings ratio of 70.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $190.97 and a 200-day moving average price of $206.15. Capital One Financial Corporation has a one year low of $174.24 and a one year high of $259.64.

Capital One Financial (NYSE:COF - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $4.42 earnings per share 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 company had revenue of $15.23 billion for the quarter, compared to analysts' expectations of $15.68 billion. During the same quarter in the previous year, the company posted $4.06 EPS. The business's quarterly revenue was up 52.3% on a year-over-year basis. Equities analysts expect that Capital One Financial Corporation will post 19.51 EPS for the current year.

Capital One Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.6%. Capital One Financial's payout ratio is currently 112.28%.

Insider Buying and Selling

In related news, insider Celia Karam sold 1,749 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $192.58, for a total value of $336,822.42. Following the sale, the insider directly 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 document filed with the SEC, which is available through this hyperlink. 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 firm's 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 completion of the sale, the general counsel directly owned 97,194 shares of the company's stock, valued at approximately $17,876,892.42. The trade was a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 8,040 shares of company stock valued at $1,498,615. Company insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

COF has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Capital One Financial in a report on Friday, March 27th. Morgan Stanley decreased their price target on shares of Capital One Financial from $300.00 to $273.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. Jefferies Financial Group reiterated a "buy" rating and set a $300.00 price objective on shares of Capital One Financial in a research report on Monday, March 16th. Rothschild & Co Redburn dropped their price objective 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, TD Cowen reduced their target price on shares of Capital One Financial from $290.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $258.75.

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.

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