Manning & Napier Advisors LLC Purchases New Shares in Capital One Financial Corporation $COF

Key Points

• Manning & Napier Advisors initiated a Capital One Financial position by purchasing 30,042 shares valued at approximately $6.1 million. Institutional investors and hedge funds collectively own 89.84% of the company.
• 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.
• Analysts maintain a broadly positive outlook, with 21 Buy ratings and three Holds producing a “Moderate Buy” consensus and a $259.14 price target; the company also declared a quarterly dividend of $0.80 per share.

Manning & Napier Advisors LLC acquired a new position in shares of Capital One Financial Corporation (NYSE:COF - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,042 shares of the financial services provider's stock, valued at approximately $6,077,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Capital One Financial in the fourth quarter worth approximately $2,089,803,000. W1M Asset Management Ltd purchased a new stake in shares of Capital One Financial in the 2nd quarter valued at approximately $368,652,000. Viking Global Investors LP boosted its stake in 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 worth $1,570,649,000 after purchasing an additional 1,717,148 shares during the period. Bessemer Group Inc. grew its position in Capital One Financial by 7,143.2% during the 4th quarter. Bessemer Group Inc. now owns 1,448,126 shares of the financial services provider's stock worth $350,966,000 after purchasing an additional 1,428,133 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Capital One Financial by 64.9% during the 4th quarter. AQR Capital Management LLC now owns 3,366,692 shares of the financial services provider's stock worth $815,951,000 after purchasing an additional 1,324,845 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors and hedge funds.

Capital One Financial Price Performance

Shares of NYSE:COF opened at $216.29 on Tuesday. The company has a market cap of $132.69 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.80 and a beta of 1.02. The business has a 50 day moving average price of $209.09 and a 200 day moving average price of $197.97. 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 twelve month low of $174.24 and a twelve month high of $259.64.

Capital One Financial (NYSE:COF - Get Free Report) last issued its quarterly earnings results 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. Capital One Financial had a return on equity of 11.28% and a net margin of 13.37%.The company had revenue of $15.83 billion for the quarter, compared to the consensus estimate of $15.76 billion. During the same period in the previous year, the business posted $5.48 EPS. The company's revenue for the quarter was up 26.9% on a year-over-year basis. Research analysts predict that Capital One Financial Corporation will post 20.29 earnings per share for the current year.

Capital One Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 17th. Capital One Financial's dividend payout ratio is presently 19.80%.

Insider Activity

In other Capital One Financial news, insider Ravi Raghu sold 9,726 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $209.78, for a total value of $2,040,320.28. Following the transaction, the insider directly owned 26,328 shares in the company, valued at approximately $5,523,087.84. This trade represents a 26.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 dated Tuesday, July 7th. The stock was sold at an average price of $208.00, for a total value of $728,000.00. Following the sale, the general counsel directly 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. Over the last quarter, insiders sold 26,267 shares of company stock worth $5,617,648. Corporate insiders own 0.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on COF shares. Bank of America lowered their price target on Capital One Financial from $234.00 to $231.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Wall Street Zen lowered Capital One Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. HSBC raised Capital One Financial from a "hold" rating to a "buy" rating and lifted their target price for the company from $226.00 to $229.00 in a research note on Sunday, July 12th. Deutsche Bank Aktiengesellschaft set a $245.00 price target on shares of Capital One Financial in a research report on Thursday. Finally, Piper Sandler started coverage on shares of Capital One Financial in a research report on Monday, June 29th. They set an "overweight" rating and a $254.00 price objective on the stock. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $259.14.

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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