Russell Investments Group Ltd. Sells 58,079 Shares of U.S. Bancorp (NYSE:USB)

Key Points

• Russell Investments Group Ltd. has reduced its stake in U.S. Bancorp by 6.2%, now holding 879,018 shares valued at approximately $37.12 million.
• The consensus rating for U.S. Bancorp among analysts is "Moderate Buy" with an average price target of $52.55.
• U.S. Bancorp announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 4.3%.

Russell Investments Group Ltd. decreased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 879,018 shares of the financial services provider's stock after selling 58,079 shares during the period. Russell Investments Group Ltd. owned 0.06% of U.S. Bancorp worth $37,118,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. raised its position in U.S. Bancorp by 9.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 537,308 shares of the financial services provider's stock worth $22,688,000 after acquiring an additional 44,358 shares during the period. Trust Asset Management LLC raised its position in U.S. Bancorp by 9.3% in the first quarter. Trust Asset Management LLC now owns 17,831 shares of the financial services provider's stock worth $753,000 after acquiring an additional 1,511 shares during the period. Public Sector Pension Investment Board raised its position in U.S. Bancorp by 3.1% in the first quarter. Public Sector Pension Investment Board now owns 417,137 shares of the financial services provider's stock worth $17,612,000 after acquiring an additional 12,353 shares during the period. AIA Group Ltd raised its position in U.S. Bancorp by 153.6% in the first quarter. AIA Group Ltd now owns 24,936 shares of the financial services provider's stock worth $1,053,000 after acquiring an additional 15,103 shares during the period. Finally, Longfellow Investment Management Co. LLC raised its position in U.S. Bancorp by 33.7% in the first quarter. Longfellow Investment Management Co. LLC now owns 19,379 shares of the financial services provider's stock worth $818,000 after acquiring an additional 4,889 shares during the period. Institutional investors own 77.60% of the company's stock.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $51.00 to $57.00 in a research report on Monday, July 7th. DA Davidson boosted their price target 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, July 21st. Oppenheimer boosted their price target on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, TD Cowen started coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They issued a "buy" rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.55.

U.S. Bancorp Price Performance

USB stock traded down $0.87 during midday trading on Friday, reaching $45.96. The company had a trading volume of 8,995,415 shares, compared to its average volume of 8,897,143. 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 has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a market capitalization of $71.52 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.44 and a beta of 1.01. The firm has a 50-day moving average price of $45.46 and a 200-day moving average price of $43.83.

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

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.4%. U.S. Bancorp's dividend payout ratio is 47.85%.

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.