QRG Capital Management Inc. Acquires 28,855 Shares of Capital One Financial Corporation $COF

Key Points

• QRG Capital Management increased its Capital One Financial stake by 32.3% in the second quarter, adding 28,855 shares to hold 118,061 shares valued at approximately $23.7 million. Institutional investors collectively own 89.84% of the company.
• Analysts remain broadly positive, with 21 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $258.91. Recent targets range from $229 to $259.
• Capital One reported quarterly EPS of $5.81, beating estimates of $4.79, while revenue rose 26.9% year over year to $15.83 billion. The company also paid a quarterly dividend of $0.80 per share, implying a 1.6% annualized yield.

QRG Capital Management Inc. boosted its holdings in Capital One Financial Corporation (NYSE:COF - Free Report) by 32.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,061 shares of the financial services provider's stock after purchasing an additional 28,855 shares during the quarter. QRG Capital Management Inc.'s holdings in Capital One Financial were worth $23,685,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Sculptor Capital LP bought a new stake in shares of Capital One Financial in the first quarter valued at approximately $33,932,000. Nomura Asset Management Co. Ltd. increased its stake in Capital One Financial by 2.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 223,977 shares of the financial services provider's stock worth $54,283,000 after acquiring an additional 6,225 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in Capital One Financial by 157.8% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 36,066 shares of the financial services provider's stock worth $8,741,000 after acquiring an additional 22,074 shares during the period. Swiss National Bank raised its holdings in Capital One Financial by 6.5% in the 1st quarter. Swiss National Bank now owns 1,865,716 shares of the financial services provider's stock valued at $340,363,000 after acquiring an additional 113,200 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in Capital One Financial by 59.6% in the 4th quarter. Harbour Investments Inc. now owns 20,119 shares of the financial services provider's stock valued at $4,876,000 after acquiring an additional 7,514 shares in the last quarter. Institutional investors own 89.84% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $245.00 target price on Capital One Financial in a report on Thursday, August 20th. Wall Street Zen downgraded Capital One Financial from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. HSBC raised shares of Capital One Financial from a "hold" rating to a "buy" rating and upped their price objective for the stock from $226.00 to $229.00 in a research report on Sunday, July 12th. BTIG Research increased their price objective on shares of Capital One Financial from $224.00 to $259.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Capital One Financial from $215.00 to $245.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Twenty-one analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $258.91.

Insider Activity

In related news, insider Ravi Raghu sold 9,726 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $209.78, for a total transaction of $2,040,320.28. Following the sale, the insider owned 26,328 shares in the company, valued at $5,523,087.84. The trade was a 26.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 company'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 completion of the transaction, the general counsel directly owned 83,194 shares of the company's stock, valued at approximately $17,811,835.40. The trade was 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. In the last quarter, insiders have sold 33,850 shares of company stock valued at $7,208,382. 0.78% of the stock is currently owned by insiders.

Capital One Financial Price Performance

Capital One Financial stock traded down $4.51 during midday trading on Wednesday, reaching $196.04. The company's stock had a trading volume of 4,938,210 shares, compared to its average volume of 4,732,133. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a market cap of $120.27 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.75 and a beta of 1.02. Capital One Financial Corporation has a 52 week low of $174.24 and a 52 week high of $259.64. The business has a 50-day moving average price of $212.98 and a 200-day moving average price of $198.54.

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

Capital One Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given 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%.

Capital One Financial 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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