Callodine Capital Management LP Raises Holdings in Capital One Financial Corporation $COF

Key Points

• Callodine Capital Management LP increased its investment in Capital One Financial by 200%, becoming its 6th largest position, with holdings valued at approximately $26.9 million.
• Insider Robert M. Alexander sold 10,114 shares of Capital One stock, indicating a 12.83% decrease in ownership, while insiders collectively sold around $4.2 million in shares over the last quarter.
• Analysts have raised their price targets for Capital One Financial, with Citigroup increasing its target from $250 to $275, reinforcing a positive outlook for the stock.

Callodine Capital Management LP increased its position in Capital One Financial Corporation (NYSE:COF - Free Report) by 200.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the financial services provider's stock after buying an additional 100,000 shares during the quarter. Capital One Financial accounts for approximately 4.5% of Callodine Capital Management LP's investment portfolio, making the stock its 6th largest position. Callodine Capital Management LP's holdings in Capital One Financial were worth $26,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in COF. Brighton Jones LLC increased its stake in shares of Capital One Financial by 330.1% in the fourth quarter. Brighton Jones LLC now owns 13,587 shares of the financial services provider's stock valued at $2,423,000 after buying an additional 10,428 shares during the period. Quarry LP increased its stake in shares of Capital One Financial by 317.1% in the fourth quarter. Quarry LP now owns 317 shares of the financial services provider's stock valued at $57,000 after buying an additional 241 shares during the period. Beacon Pointe Advisors LLC increased its stake in shares of Capital One Financial by 8.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 34,781 shares of the financial services provider's stock valued at $6,202,000 after buying an additional 2,839 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Capital One Financial by 0.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 230,837 shares of the financial services provider's stock valued at $41,163,000 after buying an additional 904 shares during the period. Finally, Northern Trust Corp increased its position in Capital One Financial by 21.8% during the 4th quarter. Northern Trust Corp now owns 4,433,401 shares of the financial services provider's stock valued at $790,564,000 after purchasing an additional 793,765 shares during the period. Institutional investors and hedge funds own 89.84% of the company's stock.

Insider Buying and Selling

In related news, insider Robert M. Alexander sold 10,114 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $227.86, for a total value of $2,304,576.04. Following the transaction, the insider directly owned 68,707 shares in the company, valued at $15,655,577.02. This trade represents a 12.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Timothy P. Golden sold 3,462 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $210.28, for a total value of $727,989.36. Following the completion of the transaction, the chief accounting officer owned 8,987 shares in the company, valued at approximately $1,889,786.36. This represents a 27.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,298 shares of company stock worth $4,233,044 in the last ninety days. Corporate insiders own 1.26% of the company's stock.

Capital One Financial Trading Up 0.1%

Shares of Capital One Financial stock traded up $0.29 on Friday, reaching $227.43. 2,551,623 shares of the company's stock were exchanged, compared to its average volume of 3,266,710. The company has a market capitalization of $145.44 billion, a P/E ratio of 116.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. Capital One Financial Corporation has a 52 week low of $131.55 and a 52 week high of $232.45. The firm's 50-day moving average is $215.76 and its two-hundred day moving average is $194.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.02.

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

Capital One Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 15th. Capital One Financial's dividend payout ratio (DPR) is currently 123.08%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COF. TD Cowen raised shares of Capital One Financial from a "hold" rating to a "buy" rating and increased their target price for the company from $184.00 to $258.00 in a research report on Tuesday, July 8th. Wells Fargo & Company increased their target price on shares of Capital One Financial from $225.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Redburn Atlantic raised shares of Capital One Financial to a "strong-buy" rating in a research report on Friday, August 1st. Wall Street Zen downgraded shares of Capital One Financial from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Capital One Financial from $248.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Capital One Financial presently has a consensus rating of "Moderate Buy" and an average price target of $238.81.

Capital One Financial Profile

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.