Magellan Asset Management Ltd Sells 29,500 Shares of Capital One Financial Co. (NYSE:COF)

Magellan Asset Management Ltd reduced its position in shares of Capital One Financial Co. (NYSE:COF) by 8.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 305,850 shares of the financial services provider’s stock after selling 29,500 shares during the period. Magellan Asset Management Ltd owned about 0.08% of Capital One Financial worth $33,451,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COF. Financial Gravity Asset Management Inc. raised its position in Capital One Financial by 198.2% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 164 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 109 shares during the last quarter. Grey Fox Wealth Advisors LLC raised its holdings in shares of Capital One Financial by 75.6% in the first quarter. Grey Fox Wealth Advisors LLC now owns 295 shares of the financial services provider’s stock valued at $28,000 after buying an additional 127 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Capital One Financial by 223.4% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 304 shares of the financial services provider’s stock worth $33,000 after buying an additional 210 shares in the last quarter. America First Investment Advisors LLC bought a new stake in Capital One Financial during the 1st quarter worth about $31,000. Finally, Column Capital Advisors LLC increased its position in Capital One Financial by 73.5% in the 1st quarter. Column Capital Advisors LLC now owns 354 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. 90.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup lowered their price target on shares of Capital One Financial from $130.00 to $126.00 and set a “buy” rating for the company in a report on Friday, October 6th. StockNews.com assumed coverage on Capital One Financial in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Piper Sandler dropped their price objective on Capital One Financial from $115.00 to $109.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Morgan Stanley increased their price objective on shares of Capital One Financial from $86.00 to $87.00 and gave the company an “underweight” rating in a report on Friday, October 27th. Finally, HSBC initiated coverage on Capital One Financial in a research note on Friday, October 13th. They issued a “reduce” rating and a $84.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $106.36.

Insider Activity

In related news, Director Ann F. Hackett sold 8,000 shares of Capital One Financial stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $106.47, for a total transaction of $851,760.00. Following the completion of the sale, the director now directly owns 61,980 shares of the company’s stock, valued at approximately $6,599,010.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Capital One Financial news, CEO Richard D. Fairbank sold 3,891 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $100.88, for a total value of $392,524.08. Following the completion of the sale, the chief executive officer now owns 3,848,412 shares of the company’s stock, valued at approximately $388,227,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Hackett sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $106.47, for a total value of $851,760.00. Following the sale, the director now directly owns 61,980 shares in the company, valued at approximately $6,599,010.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,563 shares of company stock valued at $2,460,505. 1.27% of the stock is owned by insiders.

Capital One Financial Stock Performance

Shares of COF stock traded down $0.65 during trading on Tuesday, reaching $106.50. 256,253 shares of the company’s stock were exchanged, compared to its average volume of 2,885,098. Capital One Financial Co. has a twelve month low of $83.93 and a twelve month high of $123.09. The firm’s fifty day moving average price is $98.93 and its 200-day moving average price is $103.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $40.56 billion, a PE ratio of 8.05, a PEG ratio of 1.90 and a beta of 1.47.

Capital One Financial (NYSE:COF) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $4.45 earnings per share for the quarter, beating the consensus estimate of $3.35 by $1.10. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.21 billion. Capital One Financial had a net margin of 11.43% and a return on equity of 9.77%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.20 earnings per share. As a group, sell-side analysts anticipate that Capital One Financial Co. will post 12.55 EPS for the current year.

Capital One Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Monday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, November 10th. Capital One Financial’s dividend payout ratio is presently 18.03%.

Capital One Financial Profile

Capital One Financial Corporation operates as the financial services holding company for the Capital One Bank (USA), National Association; and Capital One, National Association, which provides 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.