Wellington Management Group LLP Sells 2,484,631 Shares of Capital One Financial Corporation $COF

Key Points

• Wellington Management Group LLP significantly reduced its stake in Capital One Financial by 96.3%, selling over 2.4 million shares, leaving it with approximately 94,166 shares valued at about $16.88 million.
• Several institutional investors, such as Opal Wealth Advisors LLC and Citizens National Bank Trust Department, have increased their positions in Capital One Financial during the first quarter, indicating continued interest in the company despite Wellington's sell-off.
• Analysts have mixed views on Capital One's stock, with target price increases from Royal Bank of Canada and Truist Financial, while Wall Street Zen downgraded the stock from a "buy" to a "hold" rating.

Wellington Management Group LLP decreased its holdings in Capital One Financial Corporation (NYSE:COF - Free Report) by 96.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,166 shares of the financial services provider's stock after selling 2,484,631 shares during the quarter. Wellington Management Group LLP's holdings in Capital One Financial were worth $16,884,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Capital One Financial by 330.1% during the 4th quarter. Brighton Jones LLC now owns 13,587 shares of the financial services provider's stock worth $2,423,000 after purchasing an additional 10,428 shares in the last quarter. Quarry LP increased its position in shares of Capital One Financial by 317.1% during the 4th quarter. Quarry LP now owns 317 shares of the financial services provider's stock worth $57,000 after purchasing an additional 241 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Capital One Financial by 8.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 34,781 shares of the financial services provider's stock worth $6,202,000 after purchasing an additional 2,839 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Capital One Financial by 0.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 230,837 shares of the financial services provider's stock worth $41,163,000 after purchasing an additional 904 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Capital One Financial by 21.8% during the 4th quarter. Northern Trust Corp now owns 4,433,401 shares of the financial services provider's stock worth $790,564,000 after purchasing an additional 793,765 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company's stock.

Capital One Financial Trading Up 0.1%

Capital One Financial stock traded up $0.29 during midday trading on Friday, hitting $227.43. 2,551,623 shares of the stock were exchanged, compared to its average volume of 3,266,710. The company has a fifty day simple moving average of $215.19 and a two-hundred day simple 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. The stock has a market capitalization of $145.44 billion, a PE ratio of 116.63, a P/E/G ratio of 0.89 and a beta of 1.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.47.

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

Capital One Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend 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 presently 123.08%.

Insider Buying and Selling at Capital One Financial

In other Capital One Financial news, insider Robert M. Alexander sold 10,114 shares of Capital One Financial stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $227.86, for a total value of $2,304,576.04. Following the transaction, the insider owned 68,707 shares of the company's stock, valued at approximately $15,655,577.02. The trade was a 12.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Zamsky sold 5,515 shares of Capital One Financial 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 transaction, the insider directly owned 27,364 shares in the company, valued at approximately $5,735,220.76. The trade was a 16.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,298 shares of company stock valued at $4,233,044. 1.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on COF shares. Rothschild & Co Redburn started coverage on shares of Capital One Financial in a research report on Friday, August 1st. They set a "buy" rating and a $290.00 target price for the company. Citigroup raised their price objective on shares of Capital One Financial from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Capital One Financial from $245.00 to $248.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Bank of America raised their price objective on shares of Capital One Financial from $223.00 to $233.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Barclays restated an "overweight" rating and issued a $253.00 price objective (up previously from $212.00) on shares of Capital One Financial in a research report on Monday, June 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.