Madison Asset Management LLC Sells 1,623,332 Shares of U.S. Bancorp (NYSE:USB)

Madison Asset Management LLC reduced its position in U.S. Bancorp (NYSE:USB - Free Report) by 80.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 395,490 shares of the financial services provider's stock after selling 1,623,332 shares during the period. Madison Asset Management LLC's holdings in U.S. Bancorp were worth $16,698,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. FMR LLC boosted its holdings in 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 worth $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after buying an additional 850,763 shares in the last quarter. Northern Trust Corp grew its stake in shares of U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after purchasing an additional 1,670,305 shares during the last quarter. Invesco Ltd. grew its stake in shares of U.S. Bancorp by 48.1% during 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 during the last quarter. Finally, Norges Bank bought a new position in U.S. Bancorp in the fourth quarter valued at approximately $777,524,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

USB stock traded up $0.26 during trading on Friday, reaching $46.32. 7,939,816 shares of the company were exchanged, compared to its average volume of 10,938,198. The company has a 50-day moving average of $44.96 and a two-hundred day moving average of $44.24. The company has a market capitalization of $72.16 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 1.46 and a beta of 0.99. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. As a group, equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is 47.85%.

Analyst Ratings Changes

A number of equities research analysts recently commented on USB shares. JPMorgan Chase & Co. restated an "underweight" rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. TD Cowen started coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Cowen assumed coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, DA Davidson lifted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.50.

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.