Mirae Asset Global Investments Co. Ltd. Buys New Position in Capital One Financial Corporation $COF

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Capital One Financial Corporation (NYSE:COF) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 178,536 shares of the financial services provider’s stock, valued at approximately $34,470,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Capital One Financial by 107.9% in the 2nd quarter. State Street Corp now owns 57,278,732 shares of the financial services provider’s stock valued at $11,491,259,000 after buying an additional 29,724,829 shares during the period. BlackRock Inc. increased its stake in shares of Capital One Financial by 0.5% during the second quarter. BlackRock Inc. now owns 51,054,869 shares of the financial services provider’s stock worth $10,242,628,000 after buying an additional 236,643 shares during the period. Bank of America Corp DE purchased a new stake in shares of Capital One Financial during the second quarter worth approximately $1,435,311,000. Wellington Management Group LLP increased its stake in shares of Capital One Financial by 36.2% during the second quarter. Wellington Management Group LLP now owns 7,108,112 shares of the financial services provider’s stock worth $1,426,029,000 after buying an additional 1,887,497 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Capital One Financial by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 5,621,240 shares of the financial services provider’s stock valued at $1,127,733,000 after acquiring an additional 187,532 shares in the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Capital One Financial Trading Up 0.0%

NYSE COF opened at $204.88 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s fifty day moving average price is $204.67 and its 200 day moving average price is $201.62. The company has a market capitalization of $125.69 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. Capital One Financial Corporation has a 12 month low of $174.24 and a 12 month high of $259.64.

Capital One Financial (NYSE:COF) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $6.69 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $1.16. Capital One Financial had a net margin of 13.70% and a return on equity of 11.64%. The firm had revenue of $16.31 billion during the quarter, compared to analysts’ expectations of $16.25 billion. During the same period in the previous year, the company earned $5.95 earnings per share. Capital One Financial’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts expect that Capital One Financial Corporation will post 21.53 earnings per share for the current fiscal year.

Insider Activity at Capital One Financial

In other news, CEO Richard D. Fairbank sold 90,743 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $202.86, for a total value of $18,408,124.98. Following the completion of the sale, the chief executive officer directly owned 4,018,520 shares of the company’s stock, valued at approximately $815,196,967.20. The trade was a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, October 6th. The shares were sold at an average price of $196.22, for a total value of $686,770.00. Following the completion of the sale, the general counsel directly owned 79,694 shares of the company’s stock, valued at approximately $15,637,556.68. This trade represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 115,194 shares of company stock valued at $23,546,209. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

COF has been the subject of a number of recent research reports. HSBC upgraded shares of Capital One Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $226.00 to $229.00 in a research note on Sunday, July 12th. JPMorgan Chase & Co. increased their price objective on shares of Capital One Financial from $227.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Morgan Stanley reduced their price objective on shares of Capital One Financial from $273.00 to $267.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Barclays lifted their price objective on shares of Capital One Financial from $237.00 to $238.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Finally, TD Cowen boosted their target price on shares of Capital One Financial from $242.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Twenty investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Capital One Financial presently has an average rating of “Moderate Buy” and an average price target of $256.77.

About Capital One Financial

Capital One Financial Corporation is a diversified financial services company headquartered in McLean, Virginia. Founded in 1994, the company operates as a bank holding company through Capital One, N.A., providing financial products and services to consumers, small businesses and commercial customers.

Capital One is best known for its credit card business, which offers a range of consumer and business cards. Its other activities include consumer banking products such as checking and savings accounts, auto loans and retail banking services, as well as commercial banking services for businesses and institutions.

The company primarily serves customers in the United States through digital channels, branches and other distribution networks.