Assenagon Asset Management S.A. Boosts Stock Position in Capital One Financial Corporation $COF

Key Points

• Assenagon Asset Management S.A. increased its holdings in Capital One Financial by 1,577.3%, acquiring an additional 727,177 shares during the second quarter.
• Capital One Financial reported $5.48 earnings per share for its latest quarter, exceeding estimates of $1.93, and had quarterly revenue of $12.49 billion.
• The company announced a quarterly dividend of $0.60, reflecting a 1.1% dividend yield, but has a payout ratio of 123.08%.

Assenagon Asset Management S.A. grew its position in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 1,577.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 773,281 shares of the financial services provider's stock after purchasing an additional 727,177 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.20% of Capital One Financial worth $164,523,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COF. Brighton Jones LLC increased its holdings in shares of Capital One Financial by 330.1% during the 4th quarter. Brighton Jones LLC now owns 13,587 shares of the financial services provider's stock valued at $2,423,000 after purchasing an additional 10,428 shares in the last quarter. State of Wyoming purchased a new position in shares of Capital One Financial during the 4th quarter valued at approximately $187,000. Woodline Partners LP purchased a new position in shares of Capital One Financial during the 4th quarter valued at approximately $4,085,000. Waverly Advisors LLC purchased a new position in shares of Capital One Financial during the 4th quarter valued at approximately $347,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in Capital One Financial in the 4th quarter worth $250,000. 89.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COF shares. Wells Fargo & Company boosted their price target on shares of Capital One Financial from $225.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Barclays reissued an "overweight" rating and set a $253.00 price target (up previously from $212.00) on shares of Capital One Financial in a research report on Monday, June 23rd. Truist Financial upped their target price on shares of Capital One Financial from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wall Street Zen cut shares of Capital One Financial from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, TD Cowen upgraded shares of Capital One Financial from a "hold" rating to a "buy" rating and upped their target price for the stock from $184.00 to $258.00 in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $239.44.

Insiders Place Their Bets

In other news, insider Michael Zamsky sold 5,515 shares of Capital One Financial stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $209.59, for a total value of $1,155,888.85. Following the transaction, the insider directly owned 27,364 shares of the company's stock, valued at $5,735,220.76. The trade was a 16.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Timothy P. Golden sold 207 shares of Capital One Financial stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $215.41, for a total value of $44,589.87. Following the completion of the transaction, the chief accounting officer directly owned 8,780 shares in the company, valued at $1,891,299.80. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,298 shares of company stock worth $4,679,844 over the last 90 days. Corporate insiders own 1.26% of the company's stock.

Capital One Financial Price Performance

Shares of COF stock traded up $0.66 during mid-day trading on Tuesday, reaching $226.07. The stock had a trading volume of 689,242 shares, compared to its average volume of 4,243,038. Capital One Financial Corporation has a 12-month low of $143.22 and a 12-month high of $232.45. The company has a market cap of $144.57 billion, a P/E ratio of 115.99, a price-to-earnings-growth ratio of 0.88 and a beta of 1.17. The business has a 50-day simple moving average of $218.78 and a 200 day simple moving average of $198.19. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47.

Capital One Financial (NYSE:COF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $3.55. The firm had revenue of $12.49 billion during the quarter, compared to analysts' expectations of $12.72 billion. The company's quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.14 EPS. On average, sell-side analysts anticipate that Capital One Financial Corporation will post 15.65 earnings per share for the current year.

Capital One Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a $0.60 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.40 annualized dividend and a yield of 1.1%. Capital One Financial's payout ratio is 123.08%.

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.