Legacy Private Trust Boosts Capital One Stake by 1544% in Q3
Legacy Private Trust Co. significantly increased its investment in Capital One Financial Corporation (NYSE: COF) during the third quarter, boosting its stake by 1,544%. According to the latest Form 13F filing with the SEC, the fund acquired 21,585 additional shares, bringing its total holdings to 22,983 shares valued at $4.44 million.
Other major investors have also made notable moves involving Capital One. Sculptor Capital LP initiated a new position worth approximately $33.93 million in the first quarter, while the Swiss National Bank raised its holdings by 6.5%, adding 113,200 shares to its portfolio. The Manufacturers Life Insurance Company acquired a new stake valued at $73.36 million in the second quarter, and Levin Capital Strategies L.P. increased its stake by 3.3%. Professional Financial Advisors LLC expanded its holdings by 645.8% during the second quarter.
Institutional investors and hedge funds collectively own 89.84% of Capital One's stock. The company's shares traded up $1.06 to $196.20 during mid-day trading on Tuesday, with a market capitalization of $120.37 billion. Capital One reported strong quarterly earnings, beating analyst estimates with $5.81 earnings per share and revenue of $15.83 billion, representing a 26.9% year-over-year increase.
Analysts have generally positive outlooks on Capital One, with a consensus rating of 'Moderate Buy' and a price target of $257.77. The firm recently declared a quarterly dividend of $0.80, paid on September 1st, representing a 1.6% dividend yield. Despite some insider selling, including transactions by General Counsel Matthew W. Cooper and insider Ravi Raghu, the stock continues to attract significant institutional interest.