Caisse de depot et placement du Quebec Acquires New Position in Capital One Financial Corporation $COF

Key Points

• Caisse de dépôt et placement du Québec acquired 429,061 Capital One shares in the second quarter, valued at approximately $86.1 million, while institutional investors collectively owned 89.84% of the stock.
• Analysts remain broadly positive, with 21 Buy ratings and three Holds contributing to a “Moderate Buy” consensus and an average price target of $258.91.
• Capital One exceeded quarterly earnings expectations, reporting $5.81 in adjusted earnings per share and $15.83 billion in revenue; the company also declared a quarterly dividend of $0.80 per share.

Caisse de depot et placement du Quebec acquired a new stake in shares of Capital One Financial Corporation (NYSE:COF) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 429,061 shares of the financial services provider's stock, valued at approximately $86,078,000. Caisse de depot et placement du Quebec owned approximately 0.07% of Capital One Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COF. Norges Bank bought a new position in Capital One Financial in the 4th quarter valued at approximately $2,089,803,000. Legal & General Group Plc bought a new stake in shares of Capital One Financial during the second quarter worth $680,983,000. Canada Pension Plan Investment Board bought a new stake in shares of Capital One Financial during the second quarter worth $482,718,000. Jupiter Topco LLC acquired a new position in shares of Capital One Financial during the second quarter worth $464,338,000. Finally, W1M Asset Management Ltd acquired a new position in shares of Capital One Financial during the second quarter worth $368,652,000. 89.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BTIG Research raised their price objective on Capital One Financial from $224.00 to $259.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft set a $245.00 target price on Capital One Financial in a report on Thursday, August 20th. JPMorgan Chase & Co. increased their target price on Capital One Financial from $215.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Bank of America cut their price target on Capital One Financial from $234.00 to $231.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Finally, UBS Group boosted their price target on Capital One Financial from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Twenty-one investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $258.91.

Insider Buying and Selling

In related news, General Counsel Matthew W. Cooper sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $208.00, for a total transaction of $728,000.00. Following the completion of the sale, the general counsel owned 90,194 shares of the company's stock, valued at $18,760,352. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Zamsky sold 5,473 shares of Capital One Financial stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $218.02, for a total value of $1,193,223.46. Following the completion of the sale, the insider owned 27,992 shares of the company's stock, valued at approximately $6,102,815.84. The trade was a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,267 shares of company stock worth $5,617,648 over the last three months. Insiders own 0.78% of the company's stock.

Capital One Financial Trading Down 0.1%

NYSE:COF opened at $216.91 on Friday. The firm's fifty day moving average is $210.04 and its 200-day moving average is $197.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.02. Capital One Financial Corporation has a 52 week low of $174.24 and a 52 week high of $259.64. The firm has a market cap of $133.07 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.80 and a beta of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, topping analysts' consensus estimates of $4.79 by $1.02. The business had revenue of $15.83 billion during the quarter, compared to the consensus estimate of $15.76 billion. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. Capital One Financial's quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter last year, the firm earned $5.48 earnings per share. Equities analysts expect that Capital One Financial Corporation will post 20.29 earnings per share for the current year.

Capital One Financial Announces Dividend

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

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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