Pictet Asset Management Holding SA Sells 69,120 Shares of Capital One Financial Corporation $COF

Key Points

• Pictet Asset Management cut its Capital One stake by 16.5%, selling 69,120 shares in the third quarter; it retained 348,639 shares valued at about $67.3 million.
• Capital One reported quarterly EPS of $6.69, beating the $5.53 consensus, while revenue rose 6.4% year over year to $16.31 billion. Analysts’ average rating is “Moderate Buy,” with an average price target of $256.50.
• The company declared a quarterly dividend of $0.80 per share, equivalent to an annualized yield of about 1.6%; insiders sold 202,145 shares worth roughly $41.3 million over the past 90 days.

Pictet Asset Management Holding SA lowered its position in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 16.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 348,639 shares of the financial services provider's stock after selling 69,120 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Capital One Financial worth $67,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Wealth Management LLC acquired a new stake in shares of Capital One Financial during the third quarter worth about $25,000. Torren Management LLC increased its holdings in Capital One Financial by 114.8% in the 3rd quarter. Torren Management LLC now owns 131 shares of the financial services provider's stock worth $25,000 after buying an additional 70 shares during the period. Solstein Capital LLC acquired a new position in Capital One Financial in the 2nd quarter worth approximately $26,000. Ballast Advisors LLC acquired a new position in Capital One Financial in the 1st quarter worth approximately $27,000. Finally, Gilpin Wealth Management LLC purchased a new position in Capital One Financial during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 89.84% of the company's stock.

Insider Activity at Capital One Financial

In other news, General Counsel Matthew W. Cooper sold 3,500 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $214.10, for a total transaction of $749,350.00. Following the completion of the sale, the general counsel owned 83,194 shares of the company's stock, valued at $17,811,835.40. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Celia Karam sold 2,017 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $206.07, for a total transaction of $415,643.19. Following the transaction, the insider owned 57,696 shares of the company's stock, valued at approximately $11,889,414.72. This trade represents a 3.38% 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. Over the last ninety days, insiders have sold 202,145 shares of company stock valued at $41,281,806. Insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on COF shares. JPMorgan Chase & Co. increased their price target 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. Piper Sandler upped their target price on Capital One Financial from $260.00 to $269.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft set a $245.00 target price on Capital One Financial in a report on Thursday, August 20th. UBS Group reduced their price target on Capital One Financial from $280.00 to $274.00 and set a "buy" rating for the company in a research report on Monday, November 2nd. Finally, Citigroup boosted their price target on Capital One Financial from $280.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, October 21st. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Capital One Financial currently has an average rating of "Moderate Buy" and an average target price of $256.50.

Capital One Financial Trading Down 1.6%

Shares of COF stock opened at $198.63 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $119.48 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.94 and a beta of 1.10. The stock has a 50 day simple moving average of $203.26 and a 200-day simple moving average of $200.76. Capital One Financial Corporation has a 1-year low of $174.24 and a 1-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, beating analysts' consensus estimates of $5.53 by $1.16. Capital One Financial had a net margin of 13.70% and a return on equity of 11.64%. The firm had revenue of $16.31 billion for the quarter, compared to analysts' expectations of $16.25 billion. During the same quarter last year, the company earned $5.95 EPS. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Capital One Financial Corporation will post 21.53 EPS for the current fiscal year.

Capital One Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.6%. Capital One Financial's dividend payout ratio is currently 18.89%.

About Capital One Financial

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