Northwest & Ethical Investments L.P. Sells 28,509 Shares of Capital One Financial Corporation $COF

Key Points

• Northwest & Ethical Investments L.P. has significantly reduced its stake in Capital One Financial Corporation, selling 28,509 shares, bringing its ownership down to 26,919 shares, valued at approximately $4.83 million.
• Capital One recently reported strong quarterly results, with earnings per share of $5.48, exceeding analysts' expectations and showcasing a year-over-year revenue increase of 31.4%.
• The company announced a quarterly dividend of $0.60 per share, with an ex-dividend date set for August 15th, reflecting a 1.1% yield based on its current price.

Northwest & Ethical Investments L.P. lowered its position in Capital One Financial Corporation (NYSE:COF) by 51.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,919 shares of the financial services provider's stock after selling 28,509 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Capital One Financial were worth $4,826,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in COF. Lone Pine Capital LLC bought a new stake in shares of Capital One Financial in the 4th quarter valued at $577,012,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Capital One Financial in the 1st quarter valued at $381,848,000. Meritage Group LP bought a new stake in shares of Capital One Financial in the 4th quarter valued at $227,662,000. Bank of New York Mellon Corp increased its holdings in Capital One Financial by 23.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,961,063 shares of the financial services provider's stock worth $889,519,000 after purchasing an additional 950,415 shares in the last quarter. Finally, Third Point LLC bought a new position in Capital One Financial during the 4th quarter worth about $164,946,000. Institutional investors own 89.84% of the company's stock.

Capital One Financial Trading Down 2.5%

Shares of NYSE:COF opened at $215.48 on Monday. Capital One Financial Corporation has a 52-week low of $131.55 and a 52-week high of $232.45. The company has a market capitalization of $137.80 billion, a P/E ratio of 110.50, a price-to-earnings-growth ratio of 0.84 and a beta of 1.16. The company has a 50-day simple moving average of $211.17 and a 200 day simple moving average of $193.57. 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 issued its quarterly earnings data 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 analyst estimates of $12.72 billion. The company's revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the business earned $3.14 earnings per share. Sell-side analysts forecast that Capital One Financial Corporation will post 15.65 earnings per share for the current year.

Capital One Financial Announces Dividend

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

Insiders Place Their Bets

In other Capital One Financial news, insider Michael Zamsky sold 5,515 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $209.59, for a total transaction of $1,155,888.85. Following the completion of the sale, the insider directly owned 27,364 shares in the company, valued at $5,735,220.76. This trade represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert M. Alexander sold 10,114 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $227.86, for a total transaction of $2,304,576.04. Following the sale, the insider owned 68,707 shares of the company's stock, valued at $15,655,577.02. This trade represents a 12.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,091 shares of company stock worth $4,188,454 over the last three months. Insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

COF has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on Capital One Financial from $240.00 to $255.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Wall Street Zen cut Capital One Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Truist Financial increased their target price on Capital One Financial from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Citigroup increased their target price on Capital One Financial from $250.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, TD Cowen upgraded Capital One Financial from a "hold" rating to a "buy" rating and increased their target price for the stock from $184.00 to $258.00 in a report on Tuesday, July 8th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.