Franklin Resources Inc. Buys 1,339,215 Shares of Capital One Financial Corporation $COF

Franklin Resources Inc. increased its position in Capital One Financial Corporation (NYSE:COF) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,838,304 shares of the financial services provider’s stock after acquiring an additional 1,339,215 shares during the quarter. Capital One Financial comprises approximately 0.6% of Franklin Resources Inc.’s holdings, making the stock its 29th biggest position. Franklin Resources Inc. owned about 1.86% of Capital One Financial worth $2,516,587,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Capital One Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 56,537,167 shares of the financial services provider’s stock worth $12,018,671,000 after purchasing an additional 156,254 shares during the period. State Street Corp raised its position in shares of Capital One Financial by 63.4% during the 2nd quarter. State Street Corp now owns 27,780,128 shares of the financial services provider’s stock valued at $5,910,500,000 after purchasing an additional 10,776,843 shares during the period. Geode Capital Management LLC raised its position in shares of Capital One Financial by 64.1% during the 2nd quarter. Geode Capital Management LLC now owns 14,008,841 shares of the financial services provider’s stock valued at $2,970,628,000 after purchasing an additional 5,474,328 shares during the period. Capital Research Global Investors lifted its stake in shares of Capital One Financial by 3.7% during the 3rd quarter. Capital Research Global Investors now owns 8,426,060 shares of the financial services provider’s stock valued at $1,791,264,000 after buying an additional 302,733 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Capital One Financial during the 2nd quarter valued at $1,701,511,000. Hedge funds and other institutional investors own 89.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Neal Blinde sold 38,135 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $190.51, for a total transaction of $7,265,098.85. Following the sale, the insider directly owned 33,551 shares of the company’s stock, valued at $6,391,801.01. This represents a 53.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason P. Hanson sold 3,729 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $205.00, for a total value of $764,445.00. Following the transaction, the insider owned 40,230 shares of the company’s stock, valued at $8,247,150. This represents a 8.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 67,933 shares of company stock worth $14,363,897. Insiders own 1.26% of the company’s stock.

Capital One Financial Stock Down 0.4%

Shares of COF stock opened at $184.93 on Wednesday. The company’s fifty day simple moving average is $219.49 and its two-hundred day simple moving average is $221.76. Capital One Financial Corporation has a 52 week low of $143.22 and a 52 week high of $259.64. The stock has a market cap of $115.01 billion, a P/E ratio of 62.47, a PEG ratio of 0.56 and a beta of 1.14. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.44.

Capital One Financial (NYSE:COF) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $3.86 earnings per share for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.28). Capital One Financial had a net margin of 3.54% and a return on equity of 10.68%. Capital One Financial’s revenue for the quarter was up 53.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.67 EPS. Analysts predict that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Thursday, February 19th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, February 19th. Capital One Financial’s dividend payout ratio (DPR) is currently 108.11%.

Analysts Set New Price Targets

COF has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Capital One Financial from $263.00 to $256.00 and set a “hold” rating for the company in a research note on Friday, January 23rd. Evercore dropped their price objective on Capital One Financial from $290.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, January 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $300.00 target price on shares of Capital One Financial in a research report on Tuesday, January 6th. Morgan Stanley lifted their target price on Capital One Financial from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, Citigroup boosted their price target on Capital One Financial from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $274.70.

About Capital One Financial

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.