Munich Reinsurance Co Stock Corp in Munich Has $3.20 Million Holdings in U.S. Bancorp $USB

Key Points

• Munich Reinsurance Co Stock Corp dramatically increased its U.S. Bancorp stake by 1,373.8% in the first quarter, ending with 61,532 shares worth about $3.2 million.
• Analyst sentiment on U.S. Bancorp remains broadly positive, with several firms raising price targets and the stock carrying a Moderate Buy consensus target of $64.31.
• U.S. Bancorp reported solid quarterly results, beating EPS and revenue expectations, and it recently announced a $0.52 quarterly dividend yielding about 3.4%.

Munich Reinsurance Co Stock Corp in Munich raised its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1,373.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,532 shares of the financial services provider's stock after purchasing an additional 57,357 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in U.S. Bancorp were worth $3,200,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in U.S. Bancorp during the 4th quarter valued at $1,887,497,000. Auto Owners Insurance Co lifted its position in shares of U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider's stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares in the last quarter. Capital Research Global Investors bought a new position in shares of U.S. Bancorp during the fourth quarter valued at about $296,377,000. SG Americas Securities LLC boosted its holdings in U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock worth $231,191,000 after purchasing an additional 4,210,676 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in U.S. Bancorp by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider's stock worth $1,329,683,000 after purchasing an additional 4,153,080 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on USB shares. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $62.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday. Barclays increased their price target on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Morgan Stanley lifted their price target on U.S. Bancorp from $64.00 to $67.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Stephens started coverage on U.S. Bancorp in a research note on Monday, June 15th. They issued an "equal weight" rating and a $63.00 price objective for the company. Finally, UBS Group raised their target price on U.S. Bancorp from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.31.

U.S. Bancorp News Summary

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Raymond James initiated coverage on U.S. Bancorp with a strong-buy rating and a $72 price target, implying notable upside from current levels.
• Positive Sentiment: UBS raised its price target on USB to $66 from $58, while Wells Fargo also lifted its target to $66, reinforcing expectations for more share-price appreciation.
• Positive Sentiment: Jefferies upgraded U.S. Bancorp to Buy, adding to the bullish analyst momentum around the stock.
• Positive Sentiment: U.S. Bank launched Enhanced Payments, a bundled solution for small businesses designed to move money faster and more affordably, which could support fee growth and deepen client relationships. Article: U.S. Bank Launches Enhanced Payments to Help Small Businesses Move Money Quickly and More Affordably
• Neutral Sentiment: Several articles compared USB with BNY as a value stock, which highlights investor interest in valuation but does not on its own signal a major fundamental change.
• Neutral Sentiment: Coverage on the Wix-Elavon partnership is supportive of U.S. Bank’s payments business, but the direct financial impact appears limited for now.
• Negative Sentiment: Oppenheimer reportedly lowered its price target on USB, which partially offsets the recent bullish analyst updates.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $61.09 on Thursday. The business's 50 day simple moving average is $56.94 and its 200 day simple moving average is $55.69. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $63.39. The company has a market cap of $94.76 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.08 and a beta of 0.96. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.03 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 5.11 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.4%. U.S. Bancorp's dividend payout ratio (DPR) is 43.61%.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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