Legal & General Group Plc Buys Shares of 3,394,391 Capital One Financial Corporation $COF

Legal & General Group Plc purchased a new stake in Capital One Financial Corporation (NYSE:COF) in the second quarter, HoldingsChannel reports. The firm purchased 3,394,391 shares of the financial services provider’s stock, valued at approximately $680,983,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its stake in Capital One Financial by 0.5% in the 2nd quarter. BlackRock Inc. now owns 51,054,869 shares of the financial services provider’s stock valued at $10,242,628,000 after acquiring an additional 236,643 shares during the last quarter. Franklin Resources Inc. raised its position in Capital One Financial by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 12,476,462 shares of the financial services provider’s stock worth $3,023,795,000 after acquiring an additional 638,158 shares during the last quarter. Morgan Stanley raised its position in Capital One Financial by 3.9% during the fourth quarter. Morgan Stanley now owns 8,677,981 shares of the financial services provider’s stock worth $2,103,196,000 after acquiring an additional 323,350 shares during the last quarter. Norges Bank purchased a new stake in shares of Capital One Financial in the fourth quarter valued at about $2,089,803,000. Finally, Davis Selected Advisers lifted its holdings in shares of Capital One Financial by 2.8% in the fourth quarter. Davis Selected Advisers now owns 8,614,766 shares of the financial services provider’s stock valued at $2,087,878,000 after purchasing an additional 234,649 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

Capital One Financial Stock Performance

Shares of NYSE COF opened at $216.29 on Tuesday. The company has a market cap of $132.69 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.80 and a beta of 1.02. Capital One Financial Corporation has a 12 month low of $174.24 and a 12 month high of $259.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day simple moving average of $209.09 and a 200-day simple moving average of $197.97.

Capital One Financial (NYSE:COF) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.79 by $1.02. The business had revenue of $15.83 billion during the quarter, compared to analyst estimates of $15.76 billion. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. The company’s revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.48 earnings per share. On average, equities analysts anticipate that Capital One Financial Corporation will post 20.29 earnings per share for the current year.

Capital One Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.80 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.20 annualized dividend and a yield of 1.5%. Capital One Financial’s payout ratio is 19.80%.

Insider Buying and Selling

In other Capital One Financial news, General Counsel Matthew W. Cooper sold 3,500 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $208.00, for a total transaction of $728,000.00. Following the transaction, the general counsel owned 90,194 shares of the company’s stock, valued at $18,760,352. This represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Zamsky sold 5,473 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $218.02, for a total value of $1,193,223.46. Following the sale, the insider owned 27,992 shares in the company, valued at $6,102,815.84. This trade represents a 16.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,267 shares of company stock worth $5,617,648 in the last three months. 0.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COF has been the subject of a number of recent research reports. Bank of America dropped their price objective on shares of Capital One Financial from $234.00 to $231.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. HSBC raised Capital One Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $226.00 to $229.00 in a research note on Sunday, July 12th. Weiss Ratings upgraded Capital One Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. TD Cowen dropped their price target on Capital One Financial from $260.00 to $253.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Finally, UBS Group boosted their price target on Capital One Financial from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. 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, Capital One Financial currently has an average rating of “Moderate Buy” and a consensus target price 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.