Allstate Corp Increases Stake in Capital One Financial Corporation $COF

Key Points

• Allstate Corp increased its stake in Capital One Financial by 59.6% in the first quarter, owning 18,070 shares valued at approximately $3.24 million.
• Several hedge funds also boosted their investments in Capital One, with changes including a 1,518.8% increase from Bogart Wealth LLC.
• Capital One Financial recently announced a quarterly dividend of $0.60 per share, representing an annualized yield of 1.1%.

Allstate Corp increased its holdings in Capital One Financial Corporation (NYSE:COF - Free Report) by 59.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,070 shares of the financial services provider's stock after acquiring an additional 6,745 shares during the period. Allstate Corp's holdings in Capital One Financial were worth $3,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. 1832 Asset Management L.P. increased its stake in Capital One Financial by 1,034.6% in the 1st quarter. 1832 Asset Management L.P. now owns 116,290 shares of the financial services provider's stock valued at $20,851,000 after buying an additional 106,041 shares during the last quarter. Compound Planning Inc. boosted its holdings in Capital One Financial by 9.4% in the 1st quarter. Compound Planning Inc. now owns 7,246 shares of the financial services provider's stock worth $1,299,000 after buying an additional 625 shares during the period. Ameriprise Financial Inc. boosted its holdings in Capital One Financial by 100.4% in the 1st quarter. Ameriprise Financial Inc. now owns 443,647 shares of the financial services provider's stock worth $79,595,000 after buying an additional 222,295 shares during the period. Norinchukin Bank The boosted its holdings in Capital One Financial by 15.6% in the 1st quarter. Norinchukin Bank The now owns 20,342 shares of the financial services provider's stock worth $3,647,000 after buying an additional 2,749 shares during the period. Finally, Venator Management LLC boosted its holdings in Capital One Financial by 7.7% in the 1st quarter. Venator Management LLC now owns 53,912 shares of the financial services provider's stock worth $9,666,000 after buying an additional 3,837 shares during the period. Institutional investors and hedge funds own 89.84% of the company's stock.

Capital One Financial Trading Up 1.7%

Shares of COF traded up $3.78 during trading hours on Tuesday, reaching $224.88. 3,671,782 shares of the company traded hands, compared to its average volume of 4,405,035. The company's fifty day moving average price is $213.40 and its two-hundred day moving average price is $194.14. The company has a market capitalization of $143.81 billion, a price-to-earnings ratio of 115.32, a price-to-earnings-growth ratio of 0.86 and a beta of 1.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. Capital One Financial Corporation has a 12 month low of $131.55 and a 12 month high of $232.45.

Capital One Financial (NYSE:COF - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $3.55. The company had revenue of $12.49 billion for the quarter, compared to the consensus estimate of $12.72 billion. The company's revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.14 EPS. Equities research analysts predict that Capital One Financial Corporation will post 15.65 earnings per share for the current fiscal year.

Capital One Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.40 annualized dividend and a yield of 1.1%. Capital One Financial's payout ratio is presently 123.08%.

Insider Buying and Selling

In related news, CAO Timothy P. Golden sold 207 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $215.41, for a total transaction of $44,589.87. Following the sale, the chief accounting officer owned 8,780 shares of the company's stock, valued at $1,891,299.80. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Zamsky sold 5,515 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $209.59, for a total transaction of $1,155,888.85. Following the sale, the insider directly owned 27,364 shares in the company, valued at $5,735,220.76. The trade was a 16.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,298 shares of company stock valued at $4,233,044 over the last quarter. Corporate insiders own 1.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on COF. Wells Fargo & Company raised their price objective on shares of Capital One Financial from $225.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Redburn Atlantic upgraded shares of Capital One Financial to a "strong-buy" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods increased their target price on shares of Capital One Financial from $248.00 to $260.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Truist Financial increased their target price on shares of Capital One Financial from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, Rothschild & Co Redburn assumed coverage on shares of Capital One Financial in a research note on Friday, August 1st. They issued a "buy" rating and a $290.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Capital One Financial currently has an average rating of "Moderate Buy" and a consensus price target of $238.81.

About Capital One Financial

Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.