Gateway Investment Advisers LLC Raises Stock Holdings in Capital One Financial Corporation $COF

Key Points

• Gateway Investment Advisers LLC significantly increased its stake in Capital One Financial by 9,852.2%, acquiring a total of 186,107 shares worth approximately $39.6 million during the second quarter.
• Analysts raised their price targets for Capital One Financial, with Truist Financial setting a new target of $270, while the average target price across analysts is currently $239.44.
• Capital One Financial announced a quarterly dividend of $0.60 per share, representing an annual yield of 1.1%, although the company's payout ratio stands at a high 123.08%.

Gateway Investment Advisers LLC raised its position in Capital One Financial Corporation (NYSE:COF - Free Report) by 9,852.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,107 shares of the financial services provider's stock after buying an additional 184,237 shares during the quarter. Gateway Investment Advisers LLC's holdings in Capital One Financial were worth $39,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COF. TFB Advisors LLC raised its stake in shares of Capital One Financial by 3.4% during the first quarter. TFB Advisors LLC now owns 1,539 shares of the financial services provider's stock worth $276,000 after purchasing an additional 51 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Capital One Financial by 0.9% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,117 shares of the financial services provider's stock worth $1,097,000 after purchasing an additional 53 shares during the last quarter. Opal Wealth Advisors LLC raised its stake in shares of Capital One Financial by 3.1% during the first quarter. Opal Wealth Advisors LLC now owns 2,155 shares of the financial services provider's stock worth $386,000 after purchasing an additional 64 shares during the last quarter. MAI Capital Management raised its stake in shares of Capital One Financial by 0.7% during the first quarter. MAI Capital Management now owns 8,622 shares of the financial services provider's stock worth $1,546,000 after purchasing an additional 64 shares during the last quarter. Finally, Y.D. More Investments Ltd raised its stake in shares of Capital One Financial by 13.9% during the first quarter. Y.D. More Investments Ltd now owns 540 shares of the financial services provider's stock worth $97,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 89.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on COF shares. Keefe, Bruyette & Woods increased their price objective on Capital One Financial from $248.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Truist Financial increased their price objective on Capital One Financial from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. TD Cowen raised Capital One Financial from a "hold" rating to a "buy" rating and upped their target price for the company from $184.00 to $258.00 in a report on Tuesday, July 8th. Barclays reissued an "overweight" rating and issued a $253.00 target price (up previously from $212.00) on shares of Capital One Financial in a report on Monday, June 23rd. Finally, Royal Bank Of Canada upped their target price on Capital One Financial from $240.00 to $255.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Capital One Financial has a consensus rating of "Moderate Buy" and a consensus price target of $239.44.

Capital One Financial Price Performance

Shares of COF traded down $1.61 during trading hours on Friday, reaching $228.13. 4,825,233 shares of the company traded hands, compared to its average volume of 2,808,706. The stock has a fifty day simple moving average of $218.68 and a 200 day simple moving average of $197.59. Capital One Financial Corporation has a fifty-two week low of $143.22 and a fifty-two week high of $232.45. The stock has a market capitalization of $145.89 billion, a PE ratio of 116.99, a price-to-earnings-growth ratio of 0.88 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.47.

Capital One Financial (NYSE:COF - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share for the quarter, topping the consensus estimate of $1.93 by $3.55. The business had revenue of $12.49 billion for the quarter, compared to analysts' expectations of $12.72 billion. During the same quarter last year, the company posted $3.14 earnings per share. The business's quarterly revenue was up 31.4% compared to the same quarter last year. As a group, research analysts predict that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a dividend of $0.60 per share. 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 dividend payout ratio is 123.08%.

Insiders Place Their Bets

In other news, insider Robert M. Alexander sold 10,114 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $227.86, for a total value of $2,304,576.04. Following the transaction, the insider directly owned 68,707 shares in the company, valued at $15,655,577.02. This trade represents a 12.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Timothy P. Golden sold 3,462 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $210.28, for a total value of $727,989.36. Following the completion of the transaction, the chief accounting officer owned 8,987 shares in the company, valued at approximately $1,889,786.36. This trade represents a 27.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,298 shares of company stock valued at $4,679,844. 1.26% of the stock is owned by corporate insiders.

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.