Northwestern Mutual Wealth Management Co. Acquires 24,392 Shares of U.S. Bancorp $USB

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in U.S. Bancorp by 10.6% in the fourth quarter, buying 24,392 additional shares and bringing its total holdings to 255,121 shares worth about $13.6 million.
• Wall Street remains cautiously optimistic on USB, with a consensus rating of “Moderate Buy” and an average price target of $61.20. Recent firms such as Barclays, Morgan Stanley, and DA Davidson also maintained or raised targets in the mid-$60 range.
• U.S. Bancorp reported better-than-expected quarterly results, posting EPS of $1.18 versus $1.14 expected and revenue of $7.32 billion, while also paying a quarterly dividend of $0.52 per share for a 3.9% annualized yield.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 255,121 shares of the financial services provider's stock after purchasing an additional 24,392 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in U.S. Bancorp were worth $13,613,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Paulson Wealth Management Inc. raised its stake in U.S. Bancorp by 2.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider's stock worth $469,000 after acquiring an additional 173 shares during the period. Gilbert & Cook Inc. raised its position in shares of U.S. Bancorp by 1.2% during the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock valued at $832,000 after purchasing an additional 184 shares during the period. Flputnam Investment Management Co. lifted its stake in shares of U.S. Bancorp by 1.4% during the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider's stock valued at $732,000 after buying an additional 186 shares in the last quarter. Genesis Private Wealth LLC boosted its holdings in U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock worth $445,000 after buying an additional 187 shares during the period. Finally, RiverFront Investment Group LLC increased its stake in U.S. Bancorp by 3.0% in the 4th quarter. RiverFront Investment Group LLC now owns 6,623 shares of the financial services provider's stock worth $353,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on USB. Jefferies Financial Group reaffirmed a "hold" rating and issued a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. Morgan Stanley set a $64.00 price target on U.S. Bancorp in a report on Friday, April 17th. Barclays increased their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Friday, April 17th. DA Davidson reiterated a "buy" rating and set a $65.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Finally, Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $61.20.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on 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 sale, the insider owned 207,251 shares of the company's stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp 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 sale, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $53.54 on Tuesday. The stock's fifty day moving average is $54.47 and its 200 day moving average is $54.01. U.S. Bancorp has a fifty-two week low of $42.55 and a fifty-two week high of $61.19. The firm has a market capitalization of $83.11 billion, a PE ratio of 11.22, a PEG ratio of 0.99 and a beta of 0.97. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

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 for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period last year, the company earned $1.03 earnings per share. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp's payout ratio is currently 43.61%.

U.S. Bancorp Company Profile

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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