Assenagon Asset Management S.A. Sells 268,988 Shares of Capital One Financial Corporation $COF

Key Points

• Assenagon Asset Management reduced its Capital One stake by 25.2%, selling 268,988 shares in the second quarter and retaining 797,048 shares valued at approximately $159.9 million. Institutional investors collectively own 89.84% of COF.
• Capital One reported quarterly earnings of $5.81 per share, exceeding estimates of $4.79, while revenue rose 26.9% year over year to $15.83 billion. The company also declared a quarterly dividend of $0.80 per share, representing a 1.5% yield.
• Analysts maintain a “Moderate Buy” consensus on COF, with 20 Buy ratings and four Holds and an average price target of $259.36, above the reported share price of $219.81.

Assenagon Asset Management S.A. decreased its holdings in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 25.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 797,048 shares of the financial services provider's stock after selling 268,988 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of Capital One Financial worth $159,904,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of COF. Norges Bank acquired a new stake in Capital One Financial during the 4th quarter worth $2,089,803,000. Viking Global Investors LP lifted its stake in shares of Capital One Financial by 30.3% in the 3rd quarter. Viking Global Investors LP now owns 7,388,506 shares of the financial services provider's stock valued at $1,570,649,000 after purchasing an additional 1,717,148 shares during the period. Bessemer Group Inc. lifted its stake in shares of Capital One Financial by 7,143.2% in the 4th quarter. Bessemer Group Inc. now owns 1,448,126 shares of the financial services provider's stock valued at $350,966,000 after purchasing an additional 1,428,133 shares during the period. AQR Capital Management LLC lifted its stake in shares of Capital One Financial by 64.9% in the 4th quarter. AQR Capital Management LLC now owns 3,366,692 shares of the financial services provider's stock valued at $815,951,000 after purchasing an additional 1,324,845 shares during the period. Finally, Amundi boosted its position in shares of Capital One Financial by 41.5% in the 1st quarter. Amundi now owns 3,067,354 shares of the financial services provider's stock worth $559,577,000 after purchasing an additional 899,409 shares during the last quarter. 89.84% of the stock is owned by institutional investors.

Capital One Financial Price Performance

Shares of COF stock opened at $219.81 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.39. Capital One Financial Corporation has a 12-month low of $174.24 and a 12-month high of $259.64. The firm has a fifty day moving average of $200.33 and a 200-day moving average of $198.36. The firm has a market capitalization of $134.85 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $4.79 by $1.02. The business had revenue of $15.83 billion for the quarter, compared to the consensus estimate of $15.76 billion. Capital One Financial had a return on equity of 11.28% and a net margin of 13.37%.The firm's revenue was up 26.9% compared to the same quarter last year. During the same quarter last year, the business posted $5.48 EPS. On average, equities research analysts forecast that Capital One Financial Corporation will post 20.19 earnings per share for the current year.

Capital One Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. Capital One Financial's dividend payout ratio (DPR) is currently 19.80%.

Insider Activity

In other news, insider Ravi Raghu sold 9,726 shares of Capital One Financial stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $209.78, for a total transaction of $2,040,320.28. Following the transaction, the insider owned 26,328 shares in the company, valued at $5,523,087.84. The trade was a 26.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 business's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $208.00, for a total value of $728,000.00. Following the completion of the transaction, the general counsel owned 90,194 shares of the company's stock, valued at $18,760,352. This represents a 3.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,213 shares of company stock worth $4,147,832 in the last 90 days. Corporate insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

COF has been the subject of a number of analyst reports. Bank of America decreased their price objective on Capital One Financial from $234.00 to $231.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Argus cut their target price on Capital One Financial from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. HSBC upgraded Capital One Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from $226.00 to $229.00 in a report on Sunday, July 12th. Wells Fargo & Company decreased their target price on Capital One Financial from $280.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Finally, Citigroup lowered their price target on Capital One Financial from $310.00 to $295.00 and set a "buy" rating for the company in a research note on Tuesday, July 28th. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Capital One Financial has a consensus rating of "Moderate Buy" and an average price target of $259.36.

Capital One Financial 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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