Point Break Capital Management LLC Acquires New Stake in Capital One Financial Corporation $COF

Point Break Capital Management LLC acquired a new stake in Capital One Financial Corporation (NYSE:COF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,061 shares of the financial services provider’s stock, valued at approximately $3,824,000. Capital One Financial makes up about 4.2% of Point Break Capital Management LLC’s investment portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Capital One Financial by 0.5% in the second quarter. BlackRock Inc. now owns 51,054,869 shares of the financial services provider’s stock valued at $10,242,628,000 after buying an additional 236,643 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Capital One Financial by 5.4% in 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 buying an additional 638,158 shares in the last quarter. Morgan Stanley boosted 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 acquired a new position in Capital One Financial during the fourth quarter worth about $2,089,803,000. Finally, Davis Selected Advisers grew its stake in Capital One Financial by 2.8% during the 4th quarter. Davis Selected Advisers now owns 8,614,766 shares of the financial services provider’s stock valued at $2,087,878,000 after acquiring an additional 234,649 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

Insider Buying and Selling

In other news, insider Lia Dean sold 2,193 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $225.52, for a total transaction of $494,565.36. Following the completion of the transaction, the insider directly owned 63,261 shares in the company, valued at approximately $14,266,620.72. This represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Celia Karam sold 1,888 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $225.52, for a total value of $425,781.76. Following the sale, the insider directly owned 59,708 shares of the company’s stock, valued at $13,465,348.16. The trade was a 3.07% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 26,267 shares of company stock valued at $5,617,648. 0.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on COF shares. Rothschild & Co Redburn cut their price objective on shares of Capital One Financial from $290.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. TD Cowen lowered their target price on Capital One Financial from $260.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Citigroup cut their price target on Capital One Financial from $310.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Wall Street Zen downgraded Capital One Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $245.00 price objective on Capital One Financial in a research note on Thursday, August 20th. Twenty-one investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Capital One Financial has an average rating of “Moderate Buy” and a consensus target price of $258.91.

Capital One Financial Stock Performance

Capital One Financial stock opened at $217.55 on Thursday. The firm has a 50 day simple moving average of $209.74 and a 200-day simple moving average of $197.92. The stock has a market cap of $133.46 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.79 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 1-year low of $174.24 and a 1-year high of $259.64.

Capital One Financial (NYSE:COF) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $5.81 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $15.76 billion. During the same quarter in the previous year, the company earned $5.48 EPS. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. On average, analysts expect that Capital One Financial Corporation will post 20.29 EPS for the current year.

Capital One Financial Announces Dividend

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

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.