5 Financial Stocks to Buy According to Ken Griffin’s Citadel Investment Group

3. Capital One Financial Corporation (NYSE:COF)

Citadel Investment Group’s Stake Value: $279,963,000

Percentage of Citadel Investment Group’s 13F Portfolio: 0.05%

Number of Hedge Fund Holders: 55

Capital One Financial Corporation (NYSE:COF) is an American financial corporation facilitating customers with banking facilities, credit cards, savings accounts, and auto loans. Citadel Investment Group holds a $279.9 million position in Capital One Financial Corporation (NYSE:COF), increasing its stake in the company by 130% in the third quarter. 

Capital One Financial Corporation (NYSE:COF) reported a strong third quarter performance on October 26, with earnings per share of $6.86, exceeding estimates by $1.66. The Q3 revenue equaled $7.83 billion, surpassing revenue estimates by almost $381 million. 

On December 1, Baird analyst David George upgraded Capital One Financial Corporation (NYSE:COF) to Neutral from Underperform with an unchanged price target of $145.

A total of 55 hedge funds were long Capital One Financial Corporation (NYSE:COF) by September end, with Harris Associates being the leading company stakeholder, owning a $946.1 million position as of Q3 2021. 

Here is what ClearBridge Investments has to say about Capital One Financial Corporation (NYSE:COF) in its Q2 2021 investor letter:

“Portfolio holdings in the communication services and financial sectors also made strong contributions… In financials, Capital One has also benefited, at least indirectly, from government stimulus that has strengthened customer balance sheets and driven credit losses to record lows. Capital One should also benefit from a reopening of the economy and increased discretionary spending.”