QRG Capital Management Inc. Grows Stock Position in Capital One Financial Corporation $COF

Key Points

• QRG Capital Management increased its stake in Capital One Financial by 7.6% in the first quarter, bringing its holdings to 89,206 shares valued at about $16.3 million.
• Wall Street sentiment on COF remains broadly positive, with analysts giving it a Moderate Buy consensus rating and an average price target of $260.19, despite some recent target cuts.
• Capital One reported quarterly EPS of $4.42, missing analyst estimates, while revenue of $15.23 billion also came in below forecasts; the company also paid a $0.80 quarterly dividend.

QRG Capital Management Inc. increased its stake in shares of Capital One Financial Corporation (NYSE:COF) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,206 shares of the financial services provider's stock after purchasing an additional 6,279 shares during the quarter. QRG Capital Management Inc.'s holdings in Capital One Financial were worth $16,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COF. Norges Bank purchased a new position in Capital One Financial during the 4th quarter worth $2,089,803,000. Capital International Investors boosted its holdings in shares of Capital One Financial by 107.9% in the third quarter. Capital International Investors now owns 4,040,408 shares of the financial services provider's stock valued at $859,602,000 after acquiring an additional 2,097,208 shares in the last quarter. Viking Global Investors LP increased its stake 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 period. Bessemer Group Inc. increased its stake in shares of Capital One Financial by 7,143.2% during the fourth quarter. Bessemer Group Inc. now owns 1,448,126 shares of the financial services provider's stock worth $350,966,000 after acquiring an additional 1,428,133 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Capital One Financial by 12.8% during the third quarter. Franklin Resources Inc. now owns 11,838,304 shares of the financial services provider's stock worth $2,516,587,000 after purchasing an additional 1,339,215 shares in the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COF. Weiss Ratings restated a "hold (c)" rating on shares of Capital One Financial in a research report on Wednesday, June 24th. UBS Group dropped their target price on Capital One Financial from $283.00 to $270.00 in a research report on Wednesday, May 6th. Piper Sandler started coverage on Capital One Financial in a research note on Monday. They set an "overweight" rating and a $254.00 target price for the company. BTIG Research raised their price target on Capital One Financial from $224.00 to $259.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Argus decreased their price target on Capital One Financial from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $260.19.

Insider Activity at Capital One Financial

In related news, General Counsel Matthew W. Cooper sold 3,500 shares of Capital One Financial stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $183.93, for a total transaction of $643,755.00. Following the completion of the transaction, the general counsel directly owned 97,194 shares of the company's stock, valued at approximately $17,876,892.42. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Celia Karam sold 1,749 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $192.58, for a total value of $336,822.42. Following the sale, the insider owned 61,579 shares in the company, valued at approximately $11,858,883.82. The trade was a 2.76% 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. Company insiders own 0.78% of the company's stock.

Capital One Financial Trading Down 0.1%

Shares of COF opened at $204.94 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average is $191.12 and its two-hundred day moving average is $204.84. Capital One Financial Corporation has a twelve month low of $174.24 and a twelve month high of $259.64. The firm has a market capitalization of $127.53 billion, a P/E ratio of 71.91, a PEG ratio of 0.74 and a beta of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $4.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.08 by ($0.66). The company had revenue of $15.23 billion for the quarter, compared to analyst estimates of $15.68 billion. Capital One Financial had a net margin of 4.29% and a return on equity of 10.59%. Capital One Financial's revenue was up 52.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.06 earnings per share. On average, research analysts predict that Capital One Financial Corporation will post 19.53 earnings per share for the current fiscal year.

Capital One Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Capital One Financial's dividend payout ratio (DPR) is presently 112.28%.

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.

Want to see what other hedge funds are holding COF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Capital One Financial Corporation (NYSE:COF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.