Corebridge Financial Inc. Trims Stake in Capital One Financial Corporation $COF

Key Points

• Corebridge Financial Inc. reduced its stake in Capital One Financial Corporation by 3.0%, holding 85,021 shares valued at $15.24 million as of the latest SEC filing.
• Capital One Financial reported earnings of $5.48 per share, significantly exceeding analyst estimates of $1.93, with quarterly revenue up 31.4% year-over-year.
• The company declared a quarterly dividend of $0.60 per share, indicating an annualized yield of 1.1%, despite having a high dividend payout ratio of 123.08%.

Corebridge Financial Inc. reduced its stake in Capital One Financial Corporation (NYSE:COF - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,021 shares of the financial services provider's stock after selling 2,660 shares during the period. Corebridge Financial Inc.'s holdings in Capital One Financial were worth $15,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank raised its stake in Capital One Financial by 9.0% during the 1st quarter. Comerica Bank now owns 104,324 shares of the financial services provider's stock worth $18,705,000 after buying an additional 8,640 shares during the period. ICONIQ Capital LLC grew its stake in Capital One Financial by 24.1% in the first quarter. ICONIQ Capital LLC now owns 2,099 shares of the financial services provider's stock valued at $376,000 after acquiring an additional 407 shares during the period. Oliver Luxxe Assets LLC grew its stake in Capital One Financial by 3.8% in the first quarter. Oliver Luxxe Assets LLC now owns 43,203 shares of the financial services provider's stock valued at $7,746,000 after acquiring an additional 1,585 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in Capital One Financial by 21.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,069,354 shares of the financial services provider's stock valued at $191,735,000 after acquiring an additional 186,006 shares during the period. Finally, APG Asset Management N.V. grew its stake in Capital One Financial by 0.8% in the first quarter. APG Asset Management N.V. now owns 242,990 shares of the financial services provider's stock valued at $40,333,000 after acquiring an additional 1,953 shares during the period. Institutional investors own 89.84% of the company's stock.

Capital One Financial Stock Performance

Shares of COF stock traded up $0.29 during trading on Friday, hitting $227.43. The company's stock had a trading volume of 2,551,623 shares, compared to its average volume of 4,374,662. The company has a market cap of $145.44 billion, a PE ratio of 116.63, a P/E/G ratio of 0.88 and a beta of 1.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $215.19 and a 200-day moving average of $194.76. Capital One Financial Corporation has a 52 week low of $131.55 and a 52 week high of $232.45.

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

Capital One Financial Dividend Announcement

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

Insider Buying and Selling

In other Capital One Financial news, CAO Timothy P. Golden sold 3,462 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 of the company's stock, valued at $1,889,786.36. The trade was a 27.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Zamsky sold 5,515 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 27,364 shares of the company's stock, valued at approximately $5,735,220.76. This represents a 16.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,298 shares of company stock worth $4,233,044. Insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COF shares. Rothschild & Co Redburn started coverage on shares of Capital One Financial in a report on Friday, August 1st. They set a "buy" rating and a $290.00 price objective on the stock. Redburn Atlantic upgraded shares of Capital One Financial to a "strong-buy" rating in a report on Friday, August 1st. Bank of America upped their price objective on shares of Capital One Financial from $223.00 to $233.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Barclays reissued an "overweight" rating and set a $253.00 price objective (up from $212.00) on shares of Capital One Financial in a report on Monday, June 23rd. Finally, Truist Financial lifted their target price on Capital One Financial from $225.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.