Envestnet Asset Management Inc. Decreases Stake in U.S. Bancorp (NYSE:USB)

Envestnet Asset Management Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,221,567 shares of the financial services provider's stock after selling 876,407 shares during the period. Envestnet Asset Management Inc. owned about 0.46% of U.S. Bancorp worth $304,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in USB. Norges Bank purchased a new stake in U.S. Bancorp during the fourth quarter worth about $777,524,000. Invesco Ltd. lifted its holdings in shares of U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after purchasing an additional 5,449,949 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after purchasing an additional 4,663,518 shares in the last quarter. FMR LLC lifted its holdings in shares of U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $96,560,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 1.2%

U.S. Bancorp stock traded down $0.57 during trading on Friday, reaching $47.00. 1,739,830 shares of the company's stock were exchanged, compared to its average volume of 9,370,511. The company's 50-day moving average is $44.27 and its two-hundred day moving average is $44.40. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a market cap of $73.23 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.78 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same period in the prior year, the company earned $0.78 EPS. On average, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.26%. U.S. Bancorp's dividend payout ratio (DPR) is 49.50%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wolfe Research raised shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a report on Thursday, April 3rd. Morgan Stanley upped their price target on shares of U.S. Bancorp from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Citigroup upped their price target on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. DA Davidson cut their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.70.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director owned 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.