Envestnet Asset Management Inc. Has $304.90 Million Stock Position in U.S. Bancorp (NYSE:USB)

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

Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in U.S. Bancorp in the fourth quarter worth approximately $30,000. Westend Capital Management LLC acquired a new position in U.S. Bancorp during the first quarter valued at approximately $27,000. REAP Financial Group LLC grew its stake in shares of U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after acquiring an additional 297 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth $31,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in U.S. Bancorp in the fourth quarter worth $32,000. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Down 0.9%

NYSE:USB traded down $0.44 during trading hours on Friday, reaching $47.13. 11,510,101 shares of the stock were exchanged, compared to its average volume of 9,408,920. The stock has a market cap of $73.43 billion, a PE ratio of 11.67, a PEG ratio of 1.79 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a 50 day moving average of $44.39 and a 200 day moving average of $44.39.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same period last year, the business earned $0.78 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.24%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Insider Buying and Selling at U.S. Bancorp

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

Analyst Upgrades and Downgrades

USB has been the subject of a number of analyst reports. Truist Financial lifted their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday. DA Davidson decreased their target price on 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. The Goldman Sachs Group boosted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Morgan Stanley boosted their target price on U.S. Bancorp from $50.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Finally, Wolfe Research upgraded U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price for the company in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.70.

U.S. Bancorp Company 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.