Bronte Capital Management Pty Ltd. Reduces Stake in Capital One Financial Corporation $COF

Bronte Capital Management Pty Ltd. trimmed its position in shares of Capital One Financial Corporation (NYSE:COF) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,523 shares of the financial services provider’s stock after selling 13,846 shares during the quarter. Capital One Financial accounts for approximately 3.7% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 9th largest holding. Bronte Capital Management Pty Ltd.’s holdings in Capital One Financial were worth $34,812,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. First Command Advisory Services Inc. raised its holdings in shares of Capital One Financial by 4.5% in the fourth quarter. First Command Advisory Services Inc. now owns 1,067 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 46 shares during the last quarter. Dogwood Wealth Management LLC boosted its holdings in Capital One Financial by 26.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 228 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 47 shares during the last quarter. High Note Wealth LLC grew its position in Capital One Financial by 44.9% in the 4th quarter. High Note Wealth LLC now owns 155 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 48 shares in the last quarter. Fiducient Advisors LLC grew its position in Capital One Financial by 4.2% in the 4th quarter. Fiducient Advisors LLC now owns 1,196 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 48 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its stake in Capital One Financial by 5.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 1,057 shares of the financial services provider’s stock valued at $256,000 after buying an additional 50 shares during the last quarter. Institutional investors own 89.84% of the company’s stock.

Capital One Financial Price Performance

NYSE COF opened at $227.19 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.39. The company has a market cap of $139.37 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 0.84 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 firm’s 50-day simple moving average is $204.93 and its two-hundred day simple moving average is $198.21.

Capital One Financial (NYSE:COF) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, topping 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 firm had revenue of $15.83 billion during the quarter, compared to the consensus estimate of $15.76 billion. During the same quarter last year, the company earned $5.48 earnings per share. The company’s revenue was up 26.9% on a year-over-year basis. Research analysts predict that Capital One Financial Corporation will post 20.19 earnings per share for the current year.

Capital One Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a yield of 1.4%. Capital One Financial’s dividend payout ratio is 19.80%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on COF shares. Truist Financial dropped their target price on shares of Capital One Financial from $275.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on Capital One Financial from $256.00 to $250.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. HSBC raised Capital One Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $226.00 to $229.00 in a research report on Sunday, July 12th. JPMorgan Chase & Co. boosted their price objective on Capital One Financial from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, TD Cowen reduced their price objective on Capital One Financial from $260.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Twenty-one analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.36.

Insider Buying and Selling

In other news, insider Ravi Raghu sold 9,726 shares of the company’s stock in a transaction dated 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 directly owned 26,328 shares in the company, valued at $5,523,087.84. This represents a 26.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Timothy P. Golden sold 3,487 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $211.00, for a total value of $735,757.00. Following the sale, the chief accounting officer owned 7,429 shares in the company, valued at approximately $1,567,519. This represents a 31.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,186 shares of company stock worth $4,697,301 in the last 90 days. 0.78% of the stock is owned by company insiders.

Capital One Financial 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.