Mesirow Financial Investment Management Inc. significantly increased its investment in Capital One Financial Corporation (NYSE: COF) by an impressive 826.8% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), Mesirow now holds 16,145 shares after acquiring an additional 14,403 shares during this period. The total value of Mesirow’s holdings in Capital One is approximately $3.4 million as of the latest SEC report.
Several other institutional investors have also adjusted their positions in the financial services provider. Notably, Kingstone Capital Partners Texas LLC made a remarkable increase of 588,668.3% in its stake during the same quarter, now owning 117,447,497 shares worth around $25 billion after purchasing an additional 117,427,549 shares.
Vanguard Group Inc. increased its stake by 1.6% in the first quarter, bringing its total to 32,250,923 shares valued at approximately $5.78 billion. Similarly, Bank of New York Mellon Corp and Goldman Sachs Group Inc. grew their stakes by 23.7% and 18.2%, respectively, during the first quarter. UBS AM, a distinct business unit of UBS Asset Management, also increased its holdings by 45.1% in the same timeframe.
The institutional ownership of Capital One is substantial, with 89.84% of its stock now held by institutional investors and hedge funds.
In insider news, Capital One’s Chief Accounting Officer, Timothy P. Golden, sold 3,462 shares of the company on August 12, 2023, at an average price of $210.28, totaling approximately $727,989. Following this transaction, Golden owns 8,987 shares valued at around $1.89 million, marking a 27.81% reduction in his ownership.
Additionally, Chief Executive Officer Richard D. Fairbank sold 103,486 shares on October 27, 2023, at an average price of $225.68, which amounted to over $23.35 million. After this sale, Fairbank retains 4,051,228 shares, valued at approximately $914.28 million, reflecting a 2.49% decrease in ownership. In total, insiders have sold 116,670 shares valued at approximately $26.15 million over the last ninety days.
On the trading front, Capital One Financial’s stock opened at $220.10 on the most recent trading day, marking a gain of 0.8%. The stock has performed well, with a 52-week range between $143.22 and $232.45. Capital One boasts a market capitalization of $140.76 billion and a P/E ratio of 92.87.
The company recently reported its earnings on October 21, 2023, revealing earnings per share of $5.95 for the quarter, exceeding the consensus estimate of $4.25 by $1.70. The financial services firm achieved a return on equity of 10.94% and a net margin of 2.24%, with quarterly revenue reaching $15.36 billion—an increase of 53.4% compared to the same period last year.
Looking ahead, analysts anticipate that Capital One Financial Corporation will report earnings per share of $15.65 for the current fiscal year. As a key player in the financial services industry, Capital One operates through three primary segments: Credit Card, Consumer Banking, and Commercial Banking, serving clients across the United States, Canada, and the United Kingdom.
