Capital One Financial Corporation $COF Shares Sold by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System trimmed its Capital One Financial stake by 1.8% in the first quarter, leaving it with 556,016 shares valued at about $101.4 million.
• Insider selling continued, with General Counsel Matthew W. Cooper and insider Celia Karam both selling shares in pre-arranged Rule 10b5-1 transactions.
• Capital One reported mixed quarterly results: EPS of $4.42 missed expectations and revenue came in below forecasts, though revenue still rose 52.3% year over year. The company also paid a quarterly dividend of $0.80 per share.

New York State Teachers Retirement System decreased its position in shares of Capital One Financial Corporation (NYSE:COF) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 556,016 shares of the financial services provider's stock after selling 9,979 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Capital One Financial worth $101,434,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in COF. Victory Capital Management Inc. lifted its stake in shares of Capital One Financial by 16.6% in the 3rd quarter. Victory Capital Management Inc. now owns 378,450 shares of the financial services provider's stock worth $80,451,000 after acquiring an additional 53,961 shares during the period. Swiss Life Asset Management Ltd boosted its holdings in shares of Capital One Financial by 16.4% in the third quarter. Swiss Life Asset Management Ltd now owns 104,192 shares of the financial services provider's stock valued at $22,149,000 after acquiring an additional 14,700 shares in the last quarter. Wealth Enhancement Trust Services Inc. acquired a new position in shares of Capital One Financial during the fourth quarter worth about $1,303,000. MKP Capital Management L.L.C. acquired a new position in shares of Capital One Financial during the third quarter worth about $79,718,000. Finally, HighTower Advisors LLC raised its holdings in Capital One Financial by 18.1% during the fourth quarter. HighTower Advisors LLC now owns 353,767 shares of the financial services provider's stock worth $85,739,000 after purchasing an additional 54,263 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Matthew W. Cooper sold 3,500 shares of Capital One Financial stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $183.93, for a total value of $643,755.00. Following the transaction, the general counsel owned 97,194 shares in the company, valued at approximately $17,876,892.42. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Celia Karam sold 1,749 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $192.58, for a total value of $336,822.42. Following the sale, the insider directly owned 61,579 shares of the company's stock, valued at approximately $11,858,883.82. This trade represents a 2.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.78% of the stock is currently owned by company insiders.

Capital One Financial Trading Up 0.1%

Shares of COF opened at $204.94 on Friday. The company has a market capitalization of $127.53 billion, a PE ratio of 71.91, a price-to-earnings-growth ratio of 0.74 and a beta of 1.02. The stock has a fifty day moving average of $191.01 and a two-hundred day moving average of $204.84. Capital One Financial Corporation has a fifty-two week low of $174.24 and a fifty-two week high of $259.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.03.

Capital One Financial (NYSE:COF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $4.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.08 by ($0.66). The business had revenue of $15.23 billion during the quarter, compared to analyst estimates of $15.68 billion. Capital One Financial had a return on equity of 10.59% and a net margin of 4.29%.The firm's quarterly revenue was up 52.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.06 earnings per share. As a group, analysts forecast that Capital One Financial Corporation will post 19.53 EPS for the current year.

Capital One Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Capital One Financial's dividend payout ratio (DPR) is 112.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on COF shares. Rothschild & Co Redburn decreased their target price on shares of Capital One Financial from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Piper Sandler began coverage on shares of Capital One Financial in a report on Monday. They issued an "overweight" rating and a $254.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Capital One Financial from $256.00 to $250.00 and set a "hold" rating for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group decreased their price objective on shares of Capital One Financial from $300.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, Evercore lowered their target price on shares of Capital One Financial from $265.00 to $222.00 and set an "outperform" rating on the stock in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $260.19.

Capital One Financial Company Profile

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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