Envestnet Asset Management Inc. Increases Stock Holdings in Capital One Financial Corporation $COF

Key Points

• Envestnet Asset Management increased its Capital One stake by 43.8% in the second quarter, adding 692,425 shares to reach 2.27 million shares worth approximately $456.2 million. Institutional investors collectively owned 89.84% of the company.
• Capital One reported quarterly EPS of $5.81, surpassing 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, equivalent to a 1.6% annualized yield.
• Shares opened at $196.04, down 2.2%, while analysts maintained a generally positive view: 21 rated the stock a Buy and three rated it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $258.91.

Envestnet Asset Management Inc. increased its position in shares of Capital One Financial Corporation (NYSE:COF) by 43.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,274,188 shares of the financial services provider's stock after purchasing an additional 692,425 shares during the period. Envestnet Asset Management Inc. owned 0.37% of Capital One Financial worth $456,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in Capital One Financial by 107.9% in the second quarter. State Street Corp now owns 57,278,732 shares of the financial services provider's stock valued at $11,491,259,000 after acquiring an additional 29,724,829 shares during the last quarter. Norges Bank acquired a new position in shares of Capital One Financial in the 4th quarter valued at $2,089,803,000. Bank of America Corp DE purchased a new position in shares of Capital One Financial during the 2nd quarter worth $1,435,311,000. Legal & General Group Plc purchased a new position in shares of Capital One Financial during the 2nd quarter worth $680,983,000. Finally, Berkshire Hathaway Inc acquired a new stake in shares of Capital One Financial during the 2nd quarter worth about $601,860,000. 89.84% of the stock is owned by hedge funds and other institutional investors.

Capital One Financial Stock Down 2.2%

Shares of NYSE COF opened at $196.04 on Thursday. The stock has a market cap of $120.27 billion, a P/E ratio of 12.13, a PEG ratio of 0.74 and a beta of 1.02. The business's fifty day simple moving average is $212.72 and its 200-day simple moving average is $198.55. Capital One Financial Corporation has a 12-month low of $174.24 and a 12-month high of $259.64. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

Capital One Financial (NYSE:COF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.79 by $1.02. The company had revenue of $15.83 billion for the quarter, compared to analyst estimates of $15.76 billion. Capital One Financial had a return on equity of 11.28% and a net margin of 13.37%.Capital One Financial's revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter last year, the company earned $5.48 EPS. As a group, equities analysts predict that Capital One Financial Corporation will post 20.3 EPS for the current fiscal year.

Capital One Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.80 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a yield of 1.6%. Capital One Financial's dividend payout ratio (DPR) is currently 19.80%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup reduced their price objective on shares of Capital One Financial from $310.00 to $295.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Capital One Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. Bank of America dropped their price target on shares of Capital One Financial from $234.00 to $231.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Barclays decreased their price objective on shares of Capital One Financial from $242.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Finally, HSBC raised shares of Capital One Financial from a "hold" rating to a "buy" rating and increased their price objective for the stock from $226.00 to $229.00 in a research report on Sunday, July 12th. Twenty-one analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Capital One Financial presently has a consensus rating of "Moderate Buy" and an average price target of $258.91.

Insider Activity at Capital One Financial

In other news, insider Celia Karam sold 2,017 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $206.07, for a total transaction of $415,643.19. Following the completion of the transaction, the insider directly owned 57,696 shares of the company's stock, valued at approximately $11,889,414.72. This represents a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Matthew Cooper sold 3,500 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $214.10, for a total value of $749,350.00. Following the sale, the general counsel directly owned 83,194 shares in the company, valued at $17,811,835.40. This trade represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,850 shares of company stock worth $7,208,382 over the last three months. Company insiders own 0.78% of the company's stock.

Capital One Financial Company Profile

Capital One Financial Corporation NYSE: COF is a diversified financial services company headquartered in McLean, Virginia. Founded in 1994, the company initially built its business as a credit card issuer and has since expanded into consumer banking, commercial banking and payments.

Capital One offers a range of credit card products for consumers and businesses, along with deposit accounts, savings products, auto loans and other consumer lending services. Through its commercial banking operations, the company provides financing, treasury management and related services to commercial real estate clients, middle-market companies and other businesses.

Capital One primarily serves customers in the United States, with additional operations and financial services activities in Canada and the United Kingdom.

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