Alight Capital Management LP Sells 22,500 Shares of Capital One Financial Corporation $COF

Key Points

• Alight Capital Management LP trimmed its stake in Capital One by 52.9% in Q3, selling 22,500 shares and leaving it with 20,000 shares valued at $4.252 million.
• Insiders have been net sellers — 67,933 shares worth $14.36 million were sold in the last 90 days (including sales by Jason P. Hanson and Ravi Raghu); insiders now own 1.26% of the stock while institutions own 89.84%.
• Capital One recently missed the latest quarterly EPS ($3.86 vs. $4.14) despite revenue rising 53.3%; the company has a $111.8B market cap, a P/E of ~60.7, a 1.8% dividend yield, and an average analyst target of $274.70 (Moderate Buy).

Alight Capital Management LP trimmed its stake in Capital One Financial Corporation (NYSE:COF - Free Report) by 52.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the financial services provider's stock after selling 22,500 shares during the period. Alight Capital Management LP's holdings in Capital One Financial were worth $4,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in COF. Vanguard Group Inc. raised its stake in shares of Capital One Financial by 74.8% during the second quarter. Vanguard Group Inc. now owns 56,380,913 shares of the financial services provider's stock valued at $11,995,603,000 after acquiring an additional 24,129,990 shares in the last quarter. State Street Corp boosted its holdings in shares of Capital One Financial by 63.4% in the second quarter. State Street Corp now owns 27,780,128 shares of the financial services provider's stock valued at $5,910,500,000 after purchasing an additional 10,776,843 shares during the period. Norges Bank bought a new position in Capital One Financial in the second quarter worth approximately $1,701,511,000. Boston Partners bought a new position in Capital One Financial in the second quarter worth approximately $534,777,000. Finally, Amundi increased its holdings in Capital One Financial by 321.6% during the 2nd quarter. Amundi now owns 3,108,512 shares of the financial services provider's stock worth $680,174,000 after purchasing an additional 2,371,214 shares during the period. 89.84% of the stock is currently owned by institutional investors.

Insider Transactions at Capital One Financial

In related news, insider Jason P. Hanson sold 3,729 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $205.00, for a total transaction of $764,445.00. Following the completion of the transaction, the insider owned 40,230 shares in the company, valued at $8,247,150. The trade was a 8.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ravi Raghu sold 13,450 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $250.00, for a total transaction of $3,362,500.00. Following the sale, the insider directly owned 30,337 shares of the company's stock, valued at $7,584,250. The trade was a 30.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 67,933 shares of company stock worth $14,363,897. 1.26% of the stock is owned by corporate insiders.

Capital One Financial Trading Up 1.3%

Shares of NYSE COF opened at $179.76 on Friday. Capital One Financial Corporation has a 1-year low of $143.22 and a 1-year high of $259.64. The business has a fifty day moving average price of $215.61 and a 200 day moving average price of $220.86. The stock has a market capitalization of $111.80 billion, a P/E ratio of 60.73, a price-to-earnings-growth ratio of 0.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.04 and a quick ratio of 1.04.

Capital One Financial (NYSE:COF - Get Free Report) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $3.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.14 by ($0.28). Capital One Financial had a net margin of 3.54% and a return on equity of 10.68%. The firm's revenue was up 53.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.67 earnings per share. Equities research analysts expect that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Thursday, February 19th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Thursday, February 19th. Capital One Financial's dividend payout ratio (DPR) is currently 108.11%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their target price on Capital One Financial from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, January 20th. Zacks Research lowered Capital One Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 24th. Truist Financial decreased their price objective on Capital One Financial from $290.00 to $275.00 and set a "buy" rating for the company in a report on Monday, January 26th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $275.00 price objective on shares of Capital One Financial in a research note on Monday, January 12th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Capital One Financial from $260.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, January 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $274.70.

About Capital One Financial

Capital One Financial Corporation NYSE: COF is a diversified bank holding company headquartered in McLean, Virginia. The company's core businesses include credit card lending, consumer and commercial banking, and auto finance. Capital One issues a wide range of credit card products for consumers and small businesses, and it operates deposit and digital banking services aimed at retail customers and small to midsize enterprises.

Products and services include credit and charge cards, checking and savings accounts (including the online-focused Capital One 360 platform), auto loans, and commercial lending solutions.

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