Silverlake Wealth Management Invests $488,000 in Capital One Shares

Silverlake Wealth Management LLC has acquired a new stake in Capital One Financial Corporation (NYSE: COF), purchasing 2,293 shares valued at approximately $488,000. This investment was disclosed in the fund’s recent Form 13F filing with the Securities and Exchange Commission. The acquisition marks a significant entry into the financial services sector for Silverlake.

In addition to Silverlake’s investment, several institutional investors have adjusted their positions in Capital One. Notably, Kingstone Capital Partners Texas LLC increased its stake by an astonishing 588,668.3% during the second quarter, now holding 117,447,497 shares valued at around $24.99 billion. Vanguard Group Inc. also raised its holdings by 74.8%, bringing its total to 56,380,913 shares worth $12 billion. Similarly, State Street Corp boosted its position by 63.4%, owning 27,780,128 shares valued at approximately $5.91 billion.

Norges Bank added a new stake in Capital One, worth $1.70 billion, while Geode Capital Management LLC raised its holdings by 64.1%, now owning 14,008,841 shares valued at about $2.97 billion. Collectively, institutional investors and hedge funds hold 89.84% of Capital One’s stock.

Stock Performance and Dividend Increase

As of Monday, Capital One’s stock opened at $237.71. The company has seen a twelve-month low of $143.22 and a high of $243.31. Its market capitalization stands at approximately $151.12 billion, with a price-to-earnings ratio of 100.30 and a PEG ratio of 0.57.

Recently, Capital One announced an increase in its quarterly dividend. Shareholders of record as of November 17, 2023, received a dividend of $0.80 per share, which represents an annualized dividend of $3.20 and a yield of 1.3%. This marks a positive change from the previous quarterly dividend of $0.60. The company’s dividend payout ratio currently stands at 135.02%.

Insider Transactions and Analyst Ratings

In other news, insider Neal Blinde sold 43,200 shares of Capital One on November 6, 2023, at an average price of $221.83, totaling $9.58 million. Following this transaction, Blinde retained 73,020 shares valued at approximately $16.20 million, reflecting a 37.17% decrease in ownership.

Another insider, Celia Karam, sold 2,936 shares on December 1, 2023, for a total of $640,488.40. Karam currently holds 63,433 shares valued at about $13.84 million, a decrease of 4.42% in ownership. In total, insiders sold 280,218 shares worth $62.40 million in the last quarter, with insiders currently owning 1.26% of the company’s stock.

Several analysts have provided updated ratings for Capital One Financial. Jefferies Financial Group raised its price target from $265.00 to $275.00, maintaining a “buy” rating. JPMorgan Chase & Co. adjusted its price target from $235.00 to $237.00, while Evercore ISI increased its target from $240.00 to $255.00, both maintaining positive outlooks. Overall, three analysts rate the stock as a Strong Buy, seventeen as a Buy, and seven as a Hold, suggesting a consensus average price target of $262.70.

With these developments, Capital One Financial continues to attract significant attention from both institutional investors and analysts, reflecting its strong position in the financial services market.