Capital One Financial Corporation $COF Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management cut its Capital One stake by 3%, selling 135,048 shares in the third quarter; it still held 4.38 million shares valued at about $846 million.
• Capital One reported quarterly EPS of $6.69, topping the $5.53 estimate, while revenue of $16.31 billion slightly exceeded forecasts and grew 6.4% year over year.
• Analysts maintained a “Moderate Buy” consensus with a $256.50 average price target. The company also declared a quarterly dividend of $0.80 per share.

Fisher Asset Management LLC reduced its position in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 3.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,380,656 shares of the financial services provider's stock after selling 135,048 shares during the period. Fisher Asset Management LLC owned about 0.73% of Capital One Financial worth $845,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in Capital One Financial by 107.9% during the 2nd quarter. State Street Corp now owns 57,278,732 shares of the financial services provider's stock worth $11,491,259,000 after buying an additional 29,724,829 shares during the period. Bank of America Corp DE acquired a new position in Capital One Financial in the 2nd quarter valued at approximately $1,435,311,000. Legal & General Group Plc acquired a new position in Capital One Financial in the 2nd quarter valued at approximately $680,983,000. Berkshire Hathaway Inc bought a new position in shares of Capital One Financial during the second quarter valued at $601,860,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Capital One Financial during the second quarter valued at $482,718,000. Institutional investors and hedge funds own 89.84% of the company's stock.

Capital One Financial Stock Performance

Shares of COF stock opened at $193.66 on Friday. The stock has a market capitalization of $116.49 billion, a PE ratio of 11.43, a PEG ratio of 0.90 and a beta of 1.10. The business's 50 day simple moving average is $202.14 and its 200 day simple moving average is $200.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.02 and a quick ratio of 1.02. Capital One Financial Corporation has a one year low of $174.24 and a one year high of $259.64.

Capital One Financial (NYSE:COF - Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $6.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $1.16. The firm had revenue of $16.31 billion during the quarter, compared to analyst estimates of $16.25 billion. Capital One Financial had a net margin of 13.70% and a return on equity of 11.64%. The company's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.95 EPS. As a group, research analysts forecast that Capital One Financial Corporation will post 21.53 earnings per share for the current year.

Capital One Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, November 16th. This represents a $3.20 annualized dividend and a dividend yield of 1.7%. Capital One Financial's dividend payout ratio is 18.89%.

Insider Activity at Capital One Financial

In other news, Director Peter Raskind sold 1,681 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $201.79, for a total transaction of $339,208.99. Following the completion of the sale, the director directly owned 32,715 shares in the company, valued at $6,601,559.85. This represents a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Fairbank sold 90,743 shares of Capital One Financial stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $204.86, for a total transaction of $18,589,610.98. Following the transaction, the chief executive officer directly owned 3,968,520 shares of the company's stock, valued at $812,991,007.20. This represents a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 202,145 shares of company stock valued at $41,281,806 over the last 90 days. 0.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

COF has been the topic of a number of recent research reports. TD Cowen lifted their price target on shares of Capital One Financial from $242.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 21st. Weiss Ratings raised shares of Capital One Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, November 4th. Evercore restated an "outperform" rating and issued a $230.00 price objective on shares of Capital One Financial in a report on Tuesday, October 27th. JPMorgan Chase & Co. raised their target price on Capital One Financial from $227.00 to $241.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 21st. Finally, Citigroup raised their target price on Capital One Financial from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Capital One Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.50.

Capital One Financial Profile

Capital One Financial Corporation is a bank holding company that provides credit cards, consumer banking, auto financing and commercial banking services. Its offerings include credit cards, deposit accounts, loans and financial services for businesses. The company traces its roots to a credit card business established within Signet Banking Corporation in 1988 and became an independent company in 1994. Capital One is headquartered in McLean, Virginia, and serves customers primarily in the United States, with credit card operations also in the United Kingdom.

Want to see what other hedge funds are holding COF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Capital One Financial Corporation (NYSE:COF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.