The Czech National Bank has increased its holdings in Capital One Financial Corporation (NYSE:COF) by 3.9% during the third quarter of the year, according to recent filings with the Securities and Exchange Commission. As of the latest report, the bank owns 162,420 shares of the financial services provider, worth approximately $34.53 million.
This growth in holdings reflects a broader trend among institutional investors and hedge funds, many of which have also adjusted their positions in Capital One. Notably, Kingstone Capital Partners Texas LLC significantly raised its stake by an impressive 588,668.3% in the second quarter, acquiring 117,447,497 shares valued at around $24.99 billion.
Another major player, Vanguard Group Inc., increased its holdings by 74.8%, now owning 56,380,913 shares worth approximately $12 billion after acquiring an additional 24,129,990 shares. Similarly, State Street Corp saw a 63.4% increase, now holding 27,780,128 shares valued at around $5.91 billion.
Meanwhile, Geode Capital Management LLC lifted its stake by 64.1% to own 14,008,841 shares worth about $2.97 billion. Additionally, Norges Bank established a new stake valued at approximately $1.7 billion. Together, institutional investors hold 89.84% of Capital One’s stock.
Insider Trading Activity
In related news, there has been notable activity among insiders at Capital One. On November 13, 2023, insider Frank G. Laprade III sold 17,840 shares at an average price of $222.03, totaling about $3.96 million. After this sale, Laprade retains 48,315 shares, valued at approximately $10.73 million. This transaction marked a 26.97% reduction in his ownership.
Additionally, insider Celia Karam sold 2,936 shares on December 1, 2023, at an average price of $218.15, bringing in around $640,488. Post-sale, Karam owns 63,433 shares worth $13.84 million, reflecting a 4.42% decline in her stake. In total, insiders have sold 280,218 shares valued at nearly $62.4 million over the last quarter.
Capital One Financial’s Performance
As of Thursday, December 7, 2023, Capital One shares opened at $239.31. The company maintains a debt-to-equity ratio of 0.45 and a market capitalization of $152.14 billion. Its stock has fluctuated between a fifty-two week low of $143.22 and a high of $244.82.
The financial services provider reported earnings of $5.95 per share for the most recent quarter, alongside revenue of $15.46 billion. Analysts project that Capital One will achieve earnings of $15.65 per share for the current fiscal year.
On November 17, 2023, the company also declared a quarterly dividend of $0.80 per share, reflecting an increase from the previous dividend of $0.60. This new dividend translates to an annualized total of $3.20 and a yield of 1.3%.
As Capital One continues to adapt to market conditions, its performance and investment activity remain under close scrutiny from analysts and stakeholders alike.
