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

QRG Capital Management Inc. lifted its holdings in shares of Capital One Financial Corporation (NYSE:COF) by 32.3% during the second quarter, Holdings Channel.com reports. The firm owned 118,061 shares of the financial services provider’s stock after acquiring 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 quarter.

Several other institutional investors also recently modified their holdings of COF. State Street Corp increased its holdings in Capital One Financial by 107.9% in the second quarter. State Street Corp now owns 57,278,732 shares of the financial services provider’s stock valued at $11,491,259,000 after purchasing an additional 29,724,829 shares during the period. Norges Bank acquired a new position in Capital One Financial during the 4th quarter worth about $2,089,803,000. Bank of America Corp DE bought a new stake in shares of Capital One Financial in the 2nd quarter valued at about $1,435,311,000. Legal & General Group Plc bought a new stake in shares of Capital One Financial in the 2nd quarter valued at about $680,983,000. Finally, Berkshire Hathaway Inc acquired a new stake in shares of Capital One Financial in the second quarter valued at about $601,860,000. Institutional investors own 89.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Celia Karam sold 2,017 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $206.07, for a total value of $415,643.19. Following the sale, the insider owned 57,696 shares in the company, valued at $11,889,414.72. This represents a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lia Dean sold 2,066 shares of Capital One Financial stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $206.07, for a total value of $425,740.62. Following the transaction, the insider owned 61,195 shares of the company’s stock, valued at $12,610,453.65. This trade represents a 3.27% decrease in their position. 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 a total of 33,850 shares of company stock worth $7,208,382 over the last ninety days. Insiders own 0.78% of the company’s stock.

Analyst Upgrades and Downgrades

COF has been the subject of a number of analyst reports. Wolfe Research raised their price objective on Capital One Financial from $255.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Piper Sandler initiated coverage on Capital One Financial in a report on Monday, June 29th. They issued an “overweight” rating and a $254.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Capital One Financial from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Citigroup lowered their price target on shares of Capital One Financial from $310.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Capital One Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $258.91.

Capital One Financial Trading Down 2.2%

Shares of NYSE:COF traded down $4.51 during mid-day trading on Wednesday, hitting $196.04. The company had a trading volume of 4,938,210 shares, compared to its average volume of 4,732,133. The firm has a fifty day moving average price of $212.98 and a 200 day moving average price of $198.54. The company has a market capitalization 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. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.02 and a quick ratio of 1.02. Capital One Financial Corporation has a one year low of $174.24 and a one year high of $259.64.

Capital One Financial (NYSE:COF) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, beating the consensus estimate of $4.79 by $1.02. The firm had revenue of $15.83 billion for 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 business’s quarterly revenue 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. As a group, research analysts forecast that Capital One Financial Corporation will post 20.3 EPS for the current year.

Capital One Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.20 annualized dividend and a dividend yield of 1.6%. Capital One Financial’s payout ratio is presently 19.80%.

About Capital One Financial

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.