Adage Capital Partners GP L.L.C. Invests $120.39 Million in Capital One Financial Corporation $COF

Adage Capital Partners GP L.L.C. bought a new position in shares of Capital One Financial Corporation (NYSE:COF) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 565,828 shares of the financial services provider’s stock, valued at approximately $120,386,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of COF. Moisand Fitzgerald Tamayo LLC grew its holdings in Capital One Financial by 103.3% during the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 122 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Olistico Wealth LLC lifted its holdings in shares of Capital One Financial by 439.1% during the second quarter. Olistico Wealth LLC now owns 124 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 101 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Capital One Financial by 66.7% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 125 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 50 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in Capital One Financial in the second quarter valued at $27,000. Finally, Solstein Capital LLC acquired a new stake in Capital One Financial during the second quarter worth about $28,000. Institutional investors own 89.84% of the company’s stock.

Capital One Financial Trading Down 0.7%

COF opened at $237.71 on Friday. The business has a fifty day moving average price of $217.78 and a 200 day moving average price of $214.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 1.03. Capital One Financial Corporation has a 12 month low of $143.22 and a 12 month high of $243.31. The stock has a market capitalization of $151.12 billion, a price-to-earnings ratio of 100.30, a PEG ratio of 0.57 and a beta of 1.16.

Capital One Financial (NYSE:COF) last issued its quarterly earnings results on Monday, November 3rd. The financial services provider reported $5.95 earnings per share (EPS) for the quarter. Capital One Financial had a net margin of 2.24% and a return on equity of 10.94%. The company had revenue of $15.46 billion during the quarter. Sell-side analysts expect that Capital One Financial Corporation will post 15.65 earnings per share for the current fiscal year.

Capital One Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a dividend of $0.80 per share. This is a boost from Capital One Financial’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.20 annualized dividend and a dividend yield of 1.3%. Capital One Financial’s dividend payout ratio is 135.02%.

Wall Street Analyst Weigh In

COF has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Capital One Financial from $266.00 to $276.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Wolfe Research initiated coverage on Capital One Financial in a research note on Monday. They issued an “outperform” rating and a $270.00 price objective for the company. BTIG Research reiterated a “buy” rating and issued a $264.00 price objective on shares of Capital One Financial in a report on Wednesday, October 22nd. Jefferies Financial Group lifted their price target on Capital One Financial from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on Capital One Financial from $235.00 to $237.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $262.70.

Insider Activity at Capital One Financial

In other news, insider Lia Dean sold 3,269 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $218.15, for a total transaction of $713,132.35. Following the completion of the sale, the insider owned 69,855 shares in the company, valued at approximately $15,238,868.25. The trade was a 4.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Matthew W. Cooper sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $221.54, for a total transaction of $443,080.00. Following the completion of the sale, the general counsel directly owned 94,486 shares of the company’s stock, valued at approximately $20,932,428.44. This trade represents a 2.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 280,218 shares of company stock valued at $62,395,804 in the last quarter. Company insiders own 1.26% of the company’s stock.

About Capital One Financial

Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.