Sei Investments Acquires Additional Shares in Capital One Financial

Sei Investments Co. has increased its ownership stake in Capital One Financial Corporation (NYSE: COF) by 1.5% during the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 11,163 shares, Sei Investments now holds a total of 750,589 shares in the financial services provider. As of the latest SEC disclosure, the value of this stake amounts to approximately $159,564,000, representing about 0.12% of Capital One Financial.

Other institutional investors have also adjusted their positions in the company. Cortland Associates Inc. established a new stake valued at around $14,391,000, while CIBC Asset Management Inc. boosted its stake by 53.9% in the second quarter, bringing its total to 88,505 shares worth $18,830,000 after acquiring an additional 30,991 shares. Meridian Wealth Management LLC also increased its holdings by 334.8% in the third quarter, owning 9,404 shares valued at approximately $1,999,000. Additionally, Montecito Bank & Trust acquired a new stake valued at about $647,000, while the National Pension Service raised its stake by 4.0%, now owning 1,552,736 shares valued at $330,081,000. Overall, institutional investors hold 89.84% of Capital One’s stock.

Stock Performance and Dividend Announcement

On the trading front, shares of Capital One Financial opened at $177.07 on Friday, marking a decrease of 2.7%. The company’s market capitalization stands at $110.13 billion, with a price-to-earnings ratio of 59.82 and a beta of 1.14. Over the past twelve months, the stock has fluctuated between a low of $143.22 and a high of $259.64. Capital One’s financial ratios include a quick ratio of 1.04 and a debt-to-equity ratio of 0.44.

In a related announcement, Capital One declared a quarterly dividend of $0.80 per share, which was paid on March 2, 2024. The annualized dividend totals $3.20, resulting in a yield of 1.8%. The ex-dividend date for this payout was February 19, 2024. Currently, the company’s payout ratio stands at 108.11%.

Analyst Insights and Insider Activity

Recent analyst reports have shown a range of opinions regarding Capital One Financial’s stock. JPMorgan Chase & Co. raised its target price from $237.00 to $256.00 with a “neutral” rating. TD Cowen maintained a “buy” rating, while HSBC lowered its price objective from $234.00 to $226.00 and placed a “hold” rating on the stock. Additionally, Royal Bank of Canada issued a price target of $275.00 with a “sector perform” rating. Data from MarketBeat.com indicates that one analyst has rated the stock as a “Strong Buy,” while fifteen analysts suggest a “Buy” rating and six recommend a “Hold.” The consensus price target currently sits at $274.70.

In insider trading activity, Lia Dean, an insider, sold 3,284 shares on February 4, 2024, at an average price of $223.68, totaling approximately $734,565.12. Following this transaction, Dean owns 70,162 shares valued at around $15,693,836.16, which represents a 4.47% reduction in her position. Similarly, Jason P. Hanson sold 3,729 shares on February 25, 2024, at an average price of $205.00, for a total of $764,445.00. Post-transaction, Hanson holds 40,230 shares valued at $8,247,150, a decrease of 8.48% in his ownership.

In total, insiders have sold 67,933 shares worth $14,363,897 over the past three months, with corporate insiders holding 1.26% of the company’s stock.

Capital One Financial Corporation is headquartered in McLean, Virginia, and operates as a diversified bank holding company. Its core services encompass credit card lending, consumer and commercial banking, as well as auto finance, offering a range of products including credit and charge cards, checking and savings accounts, auto loans, and commercial lending solutions.