OFI Invest Increases Stake in Capital One Financial by 187.4%

OFI Invest Asset Management has significantly increased its holdings in Capital One Financial Corporation (NYSE: COF), acquiring an additional 452,617 shares during the third quarter. This move boosts OFI’s total ownership to 694,199 shares, representing a remarkable 187.4% increase in their stake, according to a report from Holdings Channel.com. As of their most recent filing with the Securities and Exchange Commission (SEC), the value of OFI’s investment in Capital One stands at approximately $147.57 million.

Other institutional investors have similarly adjusted their positions in Capital One. Notably, Kingstone Capital Partners Texas LLC expanded its holdings by an astonishing 588,668.3% in the second quarter, now owning 117,447,497 shares valued at $24.99 billion following the purchase of an additional 117,427,549 shares. In addition, Vanguard Group Inc. raised its shares by 74.8%, amassing 56,380,913 shares worth $11.99 billion after acquiring 24,129,990 shares.

State Street Corp and Geode Capital Management LLC also increased their stakes in the company, with State Street raising its position by 63.4% to own 27,780,128 shares valued at $5.91 billion, while Geode boosted its holdings by 64.1%, bringing its total to 14,008,841 shares worth $2.97 billion. Meanwhile, Norges Bank established a new position in Capital One valued at $1.70 billion. Collectively, institutional investors and hedge funds now control 89.84% of Capital One’s stock.

Insider Transactions and Recent Performance

In related news, insider Celia Karam sold 2,936 shares of Capital One on December 1, 2023. The shares were sold at an average price of $218.15, amounting to a total of $640,488.40. After this transaction, Karam holds 63,433 shares valued at approximately $13.84 million, marking a 4.42% decrease in her position. Another insider, Neal Blinde, sold 43,200 shares on November 6, 2023, for a total of $9.58 million, resulting in a 37.17% decrease in his ownership.

Over the past three months, insiders have sold a total of 280,218 shares worth approximately $62.40 million. Currently, corporate insiders own 1.26% of the company’s stock.

Analysts have set new price targets for Capital One Financial, which saw its stock open at $246.91 on the latest trading day. The company has a 50-day moving average price of $221.70 and a 200-day moving average price of $217.39. Capital One’s market capitalization stands at $156.97 billion, with a price-to-earnings ratio of 104.18 and a beta of 1.16.

Financial Results and Dividend Increase

Capital One Financial Corporation recently reported its quarterly earnings, posting an earnings per share (EPS) of $5.95 for the quarter ending November 3, 2023. The company recorded revenue of $15.46 billion, with a net margin of 2.24% and a return on equity of 10.94%. Analysts anticipate that Capital One will achieve an EPS of $15.65 for the current year.

In addition to these financial results, Capital One declared a quarterly dividend of $0.80 per share, payable on December 1, 2023, to shareholders of record as of November 17, 2023. This dividend represents an increase from the previous quarterly dividend of $0.60, bringing the annualized dividend to $3.20 with a yield of 1.3%. The company’s current payout ratio stands at 135.02%.

Capital One Financial Corporation, headquartered in McLean, Virginia, is a diversified bank holding company engaged in credit card lending, consumer and commercial banking, and auto finance. Its products include a variety of credit cards and digital banking services targeted at both retail customers and small to midsize enterprises.