Primecap Management Co. CA Purchases Shares of 377,440 Capital One Financial Corporation $COF

Key Points

• Primecap Management acquired 377,440 Capital One Financial shares worth approximately $75.7 million, while institutional investors collectively own 89.84% of the company.
• Analysts remain broadly positive, with 21 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $258.91.
• Capital One reported quarterly earnings of $5.81 per share, beating estimates by $1.02, while revenue rose 26.9% year over year to $15.83 billion. The company also declared a quarterly dividend of $0.80 per share, representing a 1.5% annualized yield.

Primecap Management Co. CA acquired a new stake in Capital One Financial Corporation (NYSE:COF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 377,440 shares of the financial services provider's stock, valued at approximately $75,722,000. Primecap Management Co. CA owned approximately 0.06% of Capital One Financial as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in Capital One Financial in the 4th quarter worth approximately $2,089,803,000. Legal & General Group Plc bought a new stake in shares of Capital One Financial during the second quarter valued at approximately $680,983,000. Canada Pension Plan Investment Board purchased a new position in shares of Capital One Financial in the second quarter worth $482,718,000. W1M Asset Management Ltd purchased a new position in shares of Capital One Financial in the second quarter worth $368,652,000. Finally, Viking Global Investors LP boosted its position in shares of Capital One Financial by 30.3% during the third quarter. Viking Global Investors LP now owns 7,388,506 shares of the financial services provider's stock worth $1,570,649,000 after acquiring an additional 1,717,148 shares during the last quarter. Hedge funds and other institutional investors own 89.84% of the company's stock.

Insider Transactions at Capital One Financial

In other Capital One Financial news, insider Michael Zamsky sold 5,473 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $218.02, for a total transaction of $1,193,223.46. Following the sale, the insider directly owned 27,992 shares in the company, valued at $6,102,815.84. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lia Dean sold 2,193 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $225.52, for a total value of $494,565.36. Following the sale, the insider owned 63,261 shares in the company, 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. Insiders have sold 26,267 shares of company stock worth $5,617,648 in the last quarter. Company insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

COF has been the topic of a number of research reports. Wolfe Research lifted their price target on shares of Capital One Financial from $255.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday. HSBC raised shares of Capital One Financial from a "hold" rating to a "buy" rating and increased their price objective for the company from $226.00 to $229.00 in a report on Sunday, July 12th. JPMorgan Chase & Co. raised their price objective 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. Rothschild & Co Redburn reduced their target price on Capital One Financial from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Finally, Piper Sandler started coverage on Capital One Financial in a research report on Monday, June 29th. They issued an "overweight" rating and a $254.00 target price 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.91.

Capital One Financial Trading Up 0.6%

Shares of COF opened at $217.55 on Thursday. The stock has a market capitalization of $133.46 billion, a PE ratio of 13.46, a P/E/G ratio of 0.79 and a beta of 1.02. The company's fifty day moving average is $209.74 and its 200 day moving average is $197.92. 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 fifty-two week low of $174.24 and a fifty-two week high of $259.64.

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

Capital One Financial Dividend Announcement

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