Legal & General Group Plc Takes $680.98 Million Position in Capital One Financial Corporation $COF

Key Points

• Legal & General Group Plc acquired 3.39 million Capital One shares worth approximately $680.98 million, representing a 0.55% stake. Institutional investors collectively own 89.84% of the company.
• Analysts maintain a favorable outlook, with 21 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $259.14.
• Capital One exceeded quarterly earnings expectations, reporting $5.81 in EPS versus $4.79 forecast and $15.83 billion in revenue, up 26.9% year over year; it also declared a quarterly dividend of $0.80 per share.

Legal & General Group Plc bought a new position in shares of Capital One Financial Corporation (NYSE:COF - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,394,391 shares of the financial services provider's stock, valued at approximately $680,983,000. Legal & General Group Plc owned 0.55% of Capital One Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Evolution Wealth Management Inc. increased its position in Capital One Financial by 529.4% in the 4th quarter. Evolution Wealth Management Inc. now owns 107 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 90 shares during the period. Solstein Capital LLC acquired a new stake in Capital One Financial during the 2nd quarter worth approximately $26,000. VSM Wealth Advisory LLC acquired a new stake in Capital One Financial during the 4th quarter worth approximately $27,000. Cherry Tree Wealth Management LLC grew its stake in shares of Capital One Financial by 1,312.5% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 113 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Finally, Ballast Advisors LLC purchased a new position in shares of Capital One Financial in the 1st quarter valued at approximately $27,000. Hedge funds and other institutional investors own 89.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on COF. BTIG Research upped their price target on Capital One Financial from $224.00 to $259.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Bank of America lowered their price objective on shares of Capital One Financial from $234.00 to $231.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. TD Cowen dropped their price objective on shares of Capital One Financial from $260.00 to $253.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. JPMorgan Chase & Co. upped their price objective on shares of Capital One Financial from $215.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Finally, UBS Group upped their price objective on shares of Capital One Financial from $275.00 to $280.00 and gave the stock a "buy" rating in a research 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's stock. Based on data from MarketBeat, Capital One Financial currently has an average rating of "Moderate Buy" and a consensus price target of $259.14.

Capital One Financial Trading Down 0.7%

Shares of COF stock opened at $216.29 on Tuesday. The business's fifty day moving average price is $209.09 and its 200 day moving average price is $197.97. The firm has a market capitalization of $132.69 billion, a PE ratio of 13.38, a P/E/G ratio of 0.80 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.02 and a quick ratio of 1.02. Capital One Financial Corporation has a 1-year low of $174.24 and a 1-year high of $259.64.

Capital One Financial (NYSE:COF - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $5.81 EPS for the quarter, beating analysts' consensus estimates of $4.79 by $1.02. The company had revenue of $15.83 billion during 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%.Capital One Financial's quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter last year, the company earned $5.48 earnings per share. As a group, sell-side analysts forecast that Capital One Financial Corporation will post 20.29 EPS for the current fiscal year.

Capital One Financial Dividend Announcement

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

Insider Transactions at Capital One Financial

In other Capital One Financial news, insider Celia Karam sold 1,888 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $225.52, for a total transaction of $425,781.76. Following the transaction, the insider directly owned 59,708 shares in the company, valued at approximately $13,465,348.16. This represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a 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, insider Lia Dean sold 2,193 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $225.52, for a total transaction of $494,565.36. Following the completion of the transaction, the insider directly owned 63,261 shares of the company's stock, valued at approximately $14,266,620.72. This trade represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 26,267 shares of company stock valued at $5,617,648. 0.78% of the stock is owned by company insiders.

About Capital One Financial

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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